Corp Loews Purchases 50,789 Shares of Loews Co. (NYSE:L) Stock

Loews Co. (NYSE:LGet Rating) major shareholder Corp Loews purchased 50,789 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were purchased at an average cost of $38.44 per share, with a total value of $1,952,329.16. Following the completion of the purchase, the insider now owns 243,678,966 shares in the company, valued at approximately $9,367,019,453.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Corp Loews also recently made the following trade(s):

  • On Tuesday, September 13th, Corp Loews purchased 50,789 shares of Loews stock. The shares were purchased at an average cost of $39.42 per share, with a total value of $2,002,102.38.
  • On Thursday, September 8th, Corp Loews purchased 47,899 shares of Loews stock. The shares were purchased at an average cost of $40.08 per share, with a total value of $1,919,791.92.
  • On Tuesday, September 6th, Corp Loews purchased 48,199 shares of Loews stock. The shares were purchased at an average cost of $39.56 per share, with a total value of $1,906,752.44.

Loews Trading Down 2.6 %

Shares of L opened at $53.96 on Friday. Loews Co. has a 1-year low of $51.35 and a 1-year high of $68.20. The company has a 50-day moving average of $56.82 and a 200 day moving average of $60.65. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 12.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Wednesday, August 17th were issued a dividend of $0.0625 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.25 dividend on an annualized basis and a yield of 0.46%. Loews’s payout ratio is 5.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on L shares. TheStreet lowered shares of Loews from a “b” rating to a “c” rating in a report on Monday, August 1st. StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd.

Institutional Investors Weigh In On Loews

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Loews by 1.1% in the 4th quarter. State Street Corp now owns 9,709,517 shares of the insurance provider’s stock valued at $560,822,000 after purchasing an additional 110,003 shares in the last quarter. Norges Bank bought a new stake in shares of Loews in the 4th quarter valued at about $424,424,000. Geode Capital Management LLC raised its holdings in shares of Loews by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 3,827,677 shares of the insurance provider’s stock valued at $220,509,000 after purchasing an additional 199,257 shares in the last quarter. Invesco Ltd. raised its stake in shares of Loews by 9.3% during the 4th quarter. Invesco Ltd. now owns 3,099,773 shares of the insurance provider’s stock worth $179,043,000 after acquiring an additional 263,772 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Loews by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 2,034,208 shares of the insurance provider’s stock worth $120,547,000 after acquiring an additional 45,387 shares in the last quarter. Institutional investors own 58.61% of the company’s stock.

About Loews

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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.

See Also

Insider Buying and Selling by Quarter for Loews (NYSE:L)

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