Loews Co. Declares Quarterly Dividend of $0.06 (NYSE:L)

Loews Co. (NYSE:L) announced a quarterly dividend on Tuesday, November 12th,RTT News reports. Stockholders of record on Wednesday, November 27th will be paid a dividend of 0.0625 per share by the insurance provider on Tuesday, December 10th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%.

Loews Price Performance

NYSE L traded down $0.24 on Wednesday, hitting $82.73. 32,348 shares of the company were exchanged, compared to its average volume of 710,855. The firm has a 50 day moving average of $79.68 and a two-hundred day moving average of $77.98. The company has a market cap of $18.02 billion, a P/E ratio of 11.02 and a beta of 0.82. 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 has a 1-year low of $65.92 and a 1-year high of $84.56.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group reduced their price target 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. Finally, StockNews.com raised shares of Loews from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Insider Buying and Selling

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now directly owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,587 shares of company stock valued at $7,186,460. 18.70% of the stock is owned by company insiders.

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.