Loews (NYSE:L) Stock: Insider James Tisch Sells 196,280 Shares

Loews Corporation (NYSE:L) Director James Tisch sold 196,280 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $110.57, for a total value of $21,702,679.60. Following the completion of the transaction, the director directly owned 2,809,389 shares in the company, valued at $310,634,141.73. This trade represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Loews Stock Performance

Shares of L opened at $111.87 on Friday. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 15.47 and a beta of 0.49. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $108.84 and its two-hundred day simple moving average is $109.75. Loews Corporation has a 12 month low of $101.08 and a 12 month high of $121.01.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, November 2nd. The insurance provider reported $1.50 earnings per share for the quarter. The business had revenue of $4.76 billion for the quarter. Loews had a net margin of 7.93% and a return on equity of 7.60%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Wednesday, November 25th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 25th. Loews’s dividend payout ratio (DPR) is 3.46%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating. According to MarketBeat, Loews currently has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Loews in the 2nd quarter valued at about $1,621,369,000. Allspring Global Investments Holdings LLC increased its stake in Loews by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,807,110 shares of the insurance provider’s stock valued at $294,887,000 after buying an additional 28,502 shares during the period. Dimensional Fund Advisors LP raised its position in Loews by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 2,270,492 shares of the insurance provider’s stock worth $242,340,000 after acquiring an additional 28,016 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Loews during the 2nd quarter worth approximately $140,248,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Loews in the second quarter valued at about $107,461,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Company Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.