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

Loews Co. (NYSE:L) Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the completion of the transaction, the director now owns 6,755,529 shares in the company, valued at $571,923,085.14. The trade was a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Jonathan M. Tisch also recently made the following trade(s):

• On Thursday, February 6th, Jonathan M. Tisch sold 3,691 shares of Loews stock. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99.

Loews Price Performance

Shares of NYSE L traded up $0.61 during midday trading on Thursday, reaching $84.60. The stock had a trading volume of 761,750 shares, compared to its average volume of 724,970. The stock has a 50-day moving average of $84.70 and a 200-day moving average of $82.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $18.01 billion, a price-to-earnings ratio of 13.22 and a beta of 0.80. Loews Co. has a 12-month low of $72.91 and a 12-month high of $88.29.

Loews (NYSE:L) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews’s payout ratio is 3.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in L. Charles Schwab Investment Management Inc. lifted its stake in Loews by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after acquiring an additional 8,615 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of Loews in the fourth quarter valued at about $315,000. Intech Investment Management LLC grew its holdings in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after purchasing an additional 10,213 shares during the period. Swedbank AB lifted its position in Loews by 8.8% in the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after buying an additional 30,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after purchasing an additional 12,070 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

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.