Loews Co. (NYSE:L) Short Interest Update

Loews Co. (NYSE:L) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,780,000 shares, a growth of 9.9% from the December 15th total of 1,620,000 shares. Based on an average daily volume of 750,600 shares, the short-interest ratio is presently 2.4 days. Approximately 1.0% of the shares of the stock are sold short.

Loews Stock Up 0.2 %

L traded up $0.19 during trading hours on Monday, reaching $86.27. 553,974 shares of the stock traded hands, compared to its average volume of 754,034. Loews has a fifty-two week low of $70.59 and a fifty-two week high of $87.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 11.46 and a beta of 0.83. The firm’s fifty day simple moving average is $84.42 and its two-hundred day simple moving average is $80.91.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s dividend payout ratio (DPR) is 3.32%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Insider Buying and Selling at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on 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 owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total transaction of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock valued at $11,134,916 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after buying an additional 82,581 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Loews by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock worth $251,627,000 after buying an additional 69,459 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Loews by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after buying an additional 161,810 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 during the last quarter. 58.33% of the stock is currently owned by institutional investors.

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.