Loews Corporation (L) Insider Sells $291,902.25 in Stock

Loews Corporation (NYSE:L) insider David B. Edelson sold 5,809 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $50.25, for a total value of $291,902.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Loews Corporation (L) opened at $50.49 on Monday. Loews Corporation has a 52 week low of $44.68 and a 52 week high of $50.69. The stock has a market capitalization of $16,996.51, a price-to-earnings ratio of 17.53 and a beta of 0.74. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.44. Loews had a return on equity of 4.08% and a net margin of 7.04%. The company had revenue of $3.52 billion for the quarter. During the same period in the prior year, the business posted $0.89 earnings per share. Loews’s revenue for the quarter was up 7.1% compared to the same quarter last year. research analysts predict that Loews Corporation will post 2.75 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.50%. Loews’s dividend payout ratio is currently 8.90%.

L has been the topic of a number of research reports. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub downgraded Loews from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th.

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in Loews by 6.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares during the period. Acrospire Investment Management LLC bought a new stake in Loews during the second quarter valued at about $131,000. D.A. Davidson & CO. raised its holdings in Loews by 1.0% during the second quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 27 shares during the period. Parallel Advisors LLC raised its holdings in Loews by 25.4% during the second quarter. Parallel Advisors LLC now owns 3,361 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 680 shares during the period. Finally, Saratoga Research & Investment Management bought a new stake in Loews during the third quarter valued at about $176,000. 59.39% of the stock is currently owned by institutional investors.

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Loews Company Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

Insider Buying and Selling by Quarter for Loews (NYSE:L)

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