Loews Co. (NYSE:L) Director Sells $4,163,000.00 in Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Loews Price Performance

L stock traded up $0.87 during trading on Friday, hitting $83.67. 936,552 shares of the stock traded hands, compared to its average volume of 714,887. Loews Co. has a one year low of $66.60 and a one year high of $84.56. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of 11.07 and a beta of 0.82. The company has a 50 day simple moving average of $79.75 and a 200 day simple moving average of $78.05. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio is presently 3.32%.

Hedge Funds Weigh In On Loews

Institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC grew its holdings in Loews by 5.1% during the third quarter. Orion Portfolio Solutions LLC now owns 18,617 shares of the insurance provider’s stock valued at $1,472,000 after purchasing an additional 901 shares during the period. National Bank of Canada FI increased its position in shares of Loews by 71.9% during the third quarter. National Bank of Canada FI now owns 104,949 shares of the insurance provider’s stock worth $8,296,000 after acquiring an additional 43,906 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Loews by 56.4% during the third quarter. Kovitz Investment Group Partners LLC now owns 60,041 shares of the insurance provider’s stock worth $4,505,000 after acquiring an additional 21,654 shares in the last quarter. State Street Corp increased its position in shares of Loews by 1.0% during the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Loews by 19.2% during the third quarter. Quantinno Capital Management LP now owns 63,049 shares of the insurance provider’s stock worth $4,984,000 after acquiring an additional 10,140 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

L has been the topic of several recent research reports. StockNews.com upgraded shares of Loews from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group decreased their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

About Loews

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.