Loews Co. (NYSE:L) Insider Jonathan M. Tisch Sells 50,000 Shares

Loews Co. (NYSE:L) insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $77.14, for a total value of $3,857,000.00. Following the transaction, the insider now directly owns 457,799 shares of the company’s stock, valued at approximately $35,314,614.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Loews Price Performance

Shares of NYSE L traded up $0.25 on Friday, hitting $77.45. The company’s stock had a trading volume of 99,744 shares, compared to its average volume of 737,689. The stock has a 50 day moving average of $76.36 and a 200-day moving average of $72.54. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 11.45 and a beta of 0.82. Loews Co. has a 12-month low of $55.94 and a 12-month high of $78.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34.

Loews (NYSE:L) last announced its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a return on equity of 9.45% and a net margin of 9.27%. The firm had revenue of $4.23 billion for the quarter.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. Loews’s dividend payout ratio (DPR) is 3.71%.

Institutional Investors Weigh In On Loews

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Loews by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after buying an additional 507,513 shares during the period. Norges Bank purchased a new stake in shares of Loews in the fourth quarter valued at $511,159,000. Allspring Global Investments Holdings LLC grew its position in shares of Loews by 1.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,259,802 shares of the insurance provider’s stock valued at $255,210,000 after purchasing an additional 37,953 shares during the period. Northern Trust Corp increased its stake in Loews by 11.9% in the fourth quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock valued at $174,191,000 after purchasing an additional 266,729 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Loews by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after buying an additional 21,323 shares during the period. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Company Profile

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.