Loews (NYSE:L) Shares Down 4% – Here’s What Happened

Loews Co. (NYSE:L) traded down 4% during mid-day trading on Monday . The company traded as low as $76.00 and last traded at $76.08. 113,402 shares were traded during mid-day trading, a decline of 84% from the average session volume of 705,038 shares. The stock had previously closed at $79.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group dropped their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Price Performance

The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock’s 50-day simple moving average is $79.70 and its two-hundred day simple moving average is $77.71. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 11.71 and a beta of 0.82.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Wednesday, August 21st were issued a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 annualized dividend and a yield of 0.33%. Loews’s dividend payout ratio (DPR) is presently 3.66%.

Insider Buying and Selling at Loews

In other news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the transaction, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,587 shares of company stock valued at $7,186,460 in the last three months. 18.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Loews

Several institutional investors and hedge funds have recently modified their holdings of L. Vanguard Group Inc. grew its stake in Loews by 2.5% during the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock worth $1,656,376,000 after buying an additional 507,513 shares during the period. Swedbank AB acquired a new stake in Loews in the 1st quarter valued at $23,646,000. TD Asset Management Inc raised its position in Loews by 77.9% in the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after purchasing an additional 230,231 shares during the period. Bank of Montreal Can boosted its holdings in Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock worth $27,338,000 after acquiring an additional 182,009 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Loews during the second quarter worth about $13,379,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

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.