Loews (NYSE:L) Stock: Insider Mark Schwartz Sells 3,725 Shares

Key Points

• Loews VP Mark Schwartz sold 3,725 shares at an average price of $111.17, for about $414,108. After the sale, he directly held 8,355 shares, a 30.84% reduction in his position.
• Loews shares rose 0.3% to $111.89 in Thursday trading. The company reported quarterly EPS of $1.50 on revenue of $4.76 billion.
• Loews announced a quarterly dividend of $0.0625 per share, payable December 8 to shareholders of record November 25, equivalent to a 0.2% annual yield.

Loews Corporation (NYSE:L - Get Free Report) VP Mark Schwartz sold 3,725 shares of the business's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $111.17, for a total transaction of $414,108.25. Following the sale, the vice president directly owned 8,355 shares in the company, valued at $928,825.35. The trade was a 30.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Loews Stock Up 0.3%

Shares of NYSE L traded up $0.38 on Thursday, reaching $111.89. 441,323 shares of the company's stock traded hands, compared to its average volume of 786,746. The business's 50 day simple moving average is $108.74 and its two-hundred day simple moving average is $109.66. Loews Corporation has a 12 month low of $101.08 and a 12 month high of $121.01. The company has a market cap of $22.63 billion, a price-to-earnings ratio of 15.48 and a beta of 0.49. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The insurance provider reported $1.50 EPS for the quarter. The firm had revenue of $4.76 billion for the quarter. Loews had a return on equity of 7.60% and a net margin of 7.93%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Wednesday, November 25th will be paid a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's payout ratio is presently 3.46%.

Institutional Trading of Loews

A number of institutional investors and hedge funds have recently bought and sold shares of L. AlphaGrep UK Ltd raised its holdings in Loews by 43.8% in the third quarter. AlphaGrep UK Ltd now owns 4,878 shares of the insurance provider's stock worth $509,000 after buying an additional 1,485 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in shares of Loews by 12.6% during the third quarter. Meeder Advisory Services Inc. now owns 6,665 shares of the insurance provider's stock valued at $696,000 after buying an additional 748 shares during the last quarter. DiPaolo Financial Group Inc. bought a new stake in shares of Loews during the third quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Loews by 301.4% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 208 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Loews by 76.5% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 43,680 shares of the insurance provider's stock worth $4,562,000 after acquiring an additional 18,936 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating. According to data from MarketBeat, Loews has a consensus rating of "Buy".

About Loews

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation. CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.

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