Insider Selling: Loews (NYSE:L) Director Sells 1,444 Shares of Stock

Loews Corporation (NYSE:L) Director Ann Berman sold 1,444 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $108.10, for a total value of $156,096.40. Following the transaction, the director owned 6,686 shares in the company, valued at $722,756.60. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loews Trading Down 0.1%

Shares of L stock traded down $0.08 on Tuesday, hitting $106.32. The stock had a trading volume of 733,119 shares, compared to its average volume of 782,145. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a market capitalization of $21.97 billion, a P/E ratio of 16.90 and a beta of 0.61. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The company’s 50 day moving average price is $102.08 and its 200-day moving average price is $95.72.

Loews (NYSE:L) last announced its earnings results on Monday, November 3rd. The insurance provider reported $2.43 EPS for the quarter. The company had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio is currently 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Institutional Trading of Loews

A number of large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Loews during the second quarter worth about $665,658,000. Geode Capital Management LLC increased its holdings in shares of Loews by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,609,107 shares of the insurance provider’s stock valued at $420,722,000 after purchasing an additional 28,552 shares in the last quarter. Invesco Ltd. lifted its position in shares of Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after acquiring an additional 12,311 shares during the period. Northern Trust Corp raised its holdings in Loews by 7.2% during the first quarter. Northern Trust Corp now owns 2,249,036 shares of the insurance provider’s stock worth $206,709,000 after purchasing an additional 151,428 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Loews by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,496,606 shares of the insurance provider’s stock worth $137,553,000 after buying an additional 73,197 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

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.