Insider Selling: Loews Co. (NYSE:L) Director Sells $6,237,000.00 in Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares in the company, valued at $1,005,377,539.32. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Loews Stock Up 1.1 %

Shares of NYSE:L opened at $83.67 on Friday. Loews Co. has a 52 week low of $66.60 and a 52 week high of $84.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.22 billion, a PE ratio of 11.07 and a beta of 0.82. The firm has a 50 day simple moving average of $79.75 and a 200 day simple moving average of $78.05.

Loews Announces Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Loews by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after acquiring an additional 507,513 shares during the period. State Street Corp lifted its position in shares of Loews by 1.0% in the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after purchasing an additional 82,581 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Loews by 2.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after purchasing an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after buying an additional 161,810 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after buying an additional 8,615 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

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.