Loews Co. (NYSE:L) Short Interest Update

Loews Co. (NYSE:L) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,204,700 shares, a decline of 20.1% from the June 30th total of 2,758,000 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 2.1 days.

A number of brokerages have issued reports on L. ValuEngine downgraded Loews from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.60.

Shares of NYSE L opened at $48.14 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $15.15 billion, a PE ratio of 16.95 and a beta of 0.64. The firm’s fifty day moving average is $53.81. Loews has a 12-month low of $42.06 and a 12-month high of $56.20.

Loews (NYSE:L) last announced its earnings results on Monday, August 5th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. The business had revenue of $3.62 billion for the quarter. Loews had a return on equity of 4.72% and a net margin of 5.30%. During the same period last year, the business posted $0.76 EPS. As a group, analysts forecast that Loews will post 3.35 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.0625 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.25 annualized dividend and a yield of 0.52%. Loews’s dividend payout ratio (DPR) is presently 8.80%.

In related news, VP Mark S. Schwartz sold 9,083 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $53.42, for a total value of $485,213.86. Following the sale, the vice president now directly owns 5,000 shares in the company, valued at $267,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kenneth I. Siegel sold 11,037 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $53.18, for a total value of $586,947.66. The disclosure for this sale can be found here. Insiders sold 22,106 shares of company stock worth $1,175,165 over the last quarter. 14.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in L. Cornerstone Advisors Inc. lifted its holdings in shares of Loews by 23.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,003 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 193 shares during the last quarter. Bessemer Securities LLC lifted its holdings in shares of Loews by 0.5% during the 2nd quarter. Bessemer Securities LLC now owns 42,415 shares of the insurance provider’s stock valued at $2,319,000 after purchasing an additional 208 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Loews by 1.6% during the 2nd quarter. M&T Bank Corp now owns 13,770 shares of the insurance provider’s stock valued at $752,000 after purchasing an additional 214 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Loews by 8.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,896 shares of the insurance provider’s stock valued at $158,000 after purchasing an additional 224 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in shares of Loews by 1.1% during the 2nd quarter. World Asset Management Inc now owns 20,275 shares of the insurance provider’s stock valued at $1,108,000 after purchasing an additional 227 shares during the last quarter. 62.43% of the stock is currently owned by institutional investors and hedge funds.

Loews Company Profile

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.

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