Short Interest in Loews Co. (NYSE:L) Grows By 10.6%

Loews Co. (NYSE:L - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,880,000 shares, an increase of 10.6% from the March 15th total of 1,700,000 shares. Approximately 1.0% of the company's stock are sold short. Based on an average trading volume of 769,500 shares, the days-to-cover ratio is presently 2.4 days.

Loews Stock Performance

NYSE:L traded down $0.46 during midday trading on Monday, hitting $73.44. The company's stock had a trading volume of 724,649 shares, compared to its average volume of 765,033. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $16.32 billion, a P/E ratio of 11.66 and a beta of 0.83. The firm's 50 day moving average is $75.37 and its 200-day moving average is $70.59. Loews has a fifty-two week low of $55.31 and a fifty-two week high of $78.55.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The firm had revenue of $4.26 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. The ex-dividend date was Tuesday, February 20th. This represents a $0.25 annualized dividend and a dividend yield of 0.34%. Loews's payout ratio is 3.97%.

Insider Buying and Selling

In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company's stock, valued at $69,087,513.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now directly owns 945,886 shares of the company's stock, valued at $69,087,513.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now directly owns 51,965 shares of the company's stock, valued at $3,851,645.80. The disclosure for this sale can be found here. Insiders sold a total of 137,563 shares of company stock valued at $10,052,551 over the last three months. 18.70% of the stock is owned by company insiders.

Institutional Trading of Loews

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its stake in shares of Loews by 9.5% during the first quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider's stock worth $3,881,000 after buying an additional 5,176 shares during the period. American Century Companies Inc. lifted its holdings in shares of Loews by 15.6% during the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider's stock worth $1,275,000 after purchasing an additional 2,655 shares during the period. MetLife Investment Management LLC raised its position in Loews by 21.1% in the first quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider's stock worth $3,475,000 after acquiring an additional 9,333 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position 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 worth $1,701,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Loews by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider's stock valued at $323,000 after buying an additional 300 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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.