Loews Co. (NYSE:L) Short Interest Up 9.9% in December

Loews Co. (NYSE:L) saw a significant growth in short interest during the month of 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 trading volume, of 750,600 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.0% of the company’s shares are sold short.

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the transaction, the director now directly owns 12,089,677 shares in the company, valued at $1,005,377,539.32. This trade represents a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock valued at $11,134,916 over the last 90 days. 18.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Loews

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Loews during the third quarter worth approximately $40,000. Kimelman & Baird LLC purchased a new position in shares of Loews in the 2nd quarter valued at $45,000. Eastern Bank acquired a new stake in Loews during the 3rd quarter worth $47,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews in the third quarter valued at $49,000. Finally, Quest Partners LLC acquired a new position in Loews in the third quarter valued at $129,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Ratings Changes

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

Loews Stock Up 0.2 %

L stock traded up $0.19 during mid-day trading on Monday, reaching $86.27. The company had a trading volume of 553,974 shares, 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 firm has a fifty day simple moving average of $84.42 and a 200 day simple moving average of $80.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 11.46 and a beta of 0.83.

Loews Announces Dividend

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

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.