Insider Selling: Loews Co. (NYSE:L) Director Sells 883 Shares of Stock

Loews Co. (NYSE:LGet Rating) Director Philip A. Laskawy sold 883 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $64.35, for a total value of $56,821.05. Following the transaction, the director now directly owns 7,365 shares of the company’s stock, valued at $473,937.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of L traded up $0.13 during trading hours on Thursday, reaching $64.88. The stock had a trading volume of 20,396 shares, compared to its average volume of 1,110,223. Loews Co. has a 12 month low of $51.35 and a 12 month high of $68.20. The stock has a market capitalization of $15.97 billion, a PE ratio of 10.05 and a beta of 0.85. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The company’s 50-day moving average is $64.32 and its two-hundred day moving average is $61.04.

Loews (NYSE:LGet Rating) last released its quarterly earnings data on Monday, May 2nd. The insurance provider reported $1.37 earnings per share (EPS) for the quarter. Loews had a return on equity of 6.47% and a net margin of 11.46%. The company had revenue of $3.40 billion during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 7th. Investors of record on Wednesday, May 25th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Tuesday, May 24th. This represents a $0.25 annualized dividend and a dividend yield of 0.39%. Loews’s dividend payout ratio is 3.88%.

Separately, upgraded Loews from a “hold” rating to a “buy” rating in a research note on Monday, May 9th.

Several institutional investors have recently modified their holdings of L. PYA Waltman Capital LLC bought a new position in Loews during the fourth quarter worth $28,000. Ellevest Inc. increased its stake in Loews by 58.1% during the 1st quarter. Ellevest Inc. now owns 427 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. Allworth Financial LP acquired a new position in Loews during the 1st quarter valued at about $30,000. Capital Management Associates NY bought a new stake in Loews during the 1st quarter worth approximately $32,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Loews in the fourth quarter worth approximately $35,000. 61.13% of the stock is currently owned by institutional investors.

About Loews (Get Rating)

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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.

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