Insider Selling: Loews (NYSE:L) Director Sells $156,096.40 in Stock

Loews Corporation (NYSE:L) Director Ann Berman sold 1,444 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $108.10, for a total transaction of $156,096.40. Following the completion of the sale, the director owned 6,686 shares in the company, valued at $722,756.60. The trade was a 17.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Loews Trading Down 1.3%

NYSE L opened at $104.41 on Friday. Loews Corporation has a 1 year low of $78.98 and a 1 year high of $109.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $21.58 billion, a PE ratio of 15.13 and a beta of 0.62. The company has a fifty day moving average of $102.48 and a 200 day moving average of $95.97.

Loews (NYSE:L) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. The business had revenue of $4.67 billion during the quarter. Loews had a return on equity of 7.89% and a net margin of 7.95%.

Loews Announces Dividend

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

Institutional Trading of Loews

A number of institutional investors and hedge funds have recently made changes to their positions in L. Jane Street Group LLC grew its position in shares of Loews by 218.1% in the first quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock valued at $13,056,000 after purchasing an additional 97,391 shares during the period. Assetmark Inc. raised its position in shares of Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 1,270 shares during the last quarter. Advisory Alpha LLC purchased a new position in Loews in the 1st quarter valued at about $284,000. American Century Companies Inc. boosted its holdings in Loews by 7.4% in the 1st quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock worth $8,846,000 after buying an additional 6,660 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in Loews by 1.3% during the 1st quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock worth $66,463,000 after buying an additional 9,357 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

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.