Loews Co. (NYSE:L) Director Andrew H. Tisch Sells 50,000 Shares

Loews Co. (NYSE:L) Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the sale, the director now directly owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Loews Stock Up 1.1 %

Shares of NYSE:L opened at $83.67 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews Co. has a 12-month low of $66.60 and a 12-month high of $84.56. The business has a fifty day simple moving average of $79.83 and a 200 day simple moving average of $78.10. The firm has a market cap of $18.22 billion, a P/E ratio of 11.11 and a beta of 0.82.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews’s payout ratio is 3.32%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in L. Versant Capital Management Inc lifted its holdings in shares of 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 purchasing an additional 266 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Loews in the 3rd quarter valued at $40,000. Kimelman & Baird LLC bought a new position in Loews during the 2nd quarter valued at $45,000. Family Firm Inc. bought a new position in Loews during the 2nd quarter valued at $46,000. Finally, Eastern Bank purchased a new position in Loews during the 3rd quarter worth $47,000. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

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.