Loews Co. (NYSE:L – Get Free Report) saw a significant increase in short interest in the month of February. As of February 29th, there was short interest totalling 1,290,000 shares, an increase of 11.2% from the February 14th total of 1,160,000 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 818,000 shares, the short-interest ratio is presently 1.6 days.
Insider Transactions at Loews
In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the sale, the insider now directly owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now owns 106,870 shares of the company’s stock, valued at approximately $7,685,021.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,563 shares of company stock worth $10,052,551. Company insiders own 18.30% of the company’s stock.
Hedge Funds Weigh In On Loews
A number of large investors have recently bought and sold shares of L. Raymond James & Associates grew its holdings in Loews by 9.5% during the 1st quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider’s stock worth $3,881,000 after acquiring an additional 5,176 shares in the last quarter. American Century Companies Inc. increased its position in shares of Loews by 15.6% in the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider’s stock worth $1,275,000 after acquiring an additional 2,655 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Loews by 21.1% during the first quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider’s stock worth $3,475,000 after purchasing an additional 9,333 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Loews by 4.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider’s stock valued at $1,701,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Loews by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider’s stock worth $323,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 54.03% of the company’s stock.
Loews Price Performance
L remained flat at $76.97 during trading on Monday. 888,644 shares of the company’s stock were exchanged, compared to its average volume of 807,787. The company has a market capitalization of $17.10 billion, a P/E ratio of 12.22 and a beta of 0.82. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $73.65 and a two-hundred day simple moving average of $68.77. Loews has a twelve month low of $52.85 and a twelve month high of $77.56.
Loews (NYSE:L – Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The firm had revenue of $4.26 billion during the quarter.
Loews Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s payout ratio is 3.97%.
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.