Andrew H. Tisch Sells 75,000 Shares of Loews Co. (NYSE:L) Stock

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Loews Trading Up 0.3 %

Shares of NYSE L opened at $83.21 on Thursday. 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 stock’s 50 day moving average price is $79.68 and its two-hundred day moving average price is $77.98. Loews Co. has a 52-week low of $65.92 and a 52-week high of $84.56. The stock has a market capitalization of $18.12 billion, a P/E ratio of 11.06 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 dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Loews from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Jefferies Financial Group dropped their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Hedge Funds Weigh In On Loews

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

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.