Andrew H. Tisch Sells 50,000 Shares of Loews Co. (NYSE:L) Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Loews Price Performance

NYSE:L traded up $0.87 during trading hours on Friday, reaching $83.67. 936,552 shares of the company’s stock were exchanged, compared to its average volume of 714,887. The business’s 50-day simple moving average is $79.75 and its two-hundred day simple moving average is $78.05. Loews Co. has a 12 month low of $66.60 and a 12 month high of $84.56. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $18.22 billion, a P/E ratio of 11.07 and a beta of 0.82.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio is 3.32%.

Hedge Funds Weigh In On Loews

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares in the last quarter. Brooklyn Investment Group acquired a new position in Loews in the 3rd quarter valued at $40,000. Kimelman & Baird LLC acquired a new position in Loews in the 2nd quarter valued at $45,000. Family Firm Inc. acquired a new position in Loews in the 2nd quarter valued at $46,000. Finally, Eastern Bank acquired a new position in Loews in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on L shares. StockNews.com raised 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 report on Friday, July 26th. Finally, Jefferies Financial Group decreased their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a 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.