Corp Loews Buys 76,954 Shares of Loews Co. (NYSE:L) Stock

Loews Co. (NYSE:LGet Rating) major shareholder Corp Loews acquired 76,954 shares of Loews stock in a transaction dated Monday, September 19th. The shares were acquired at an average price of $39.26 per share, with a total value of $3,021,214.04. Following the transaction, the insider now owns 243,806,709 shares in the company, valued at approximately $9,571,851,395.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

  • On Thursday, September 15th, Corp Loews bought 50,789 shares of Loews stock. The stock was purchased at an average price of $38.44 per share, with a total value of $1,952,329.16.
  • On Tuesday, September 13th, Corp Loews bought 50,789 shares of Loews stock. The stock was purchased at an average price of $39.42 per share, with a total value of $2,002,102.38.
  • On Thursday, September 8th, Corp Loews bought 47,899 shares of Loews stock. The stock was purchased at an average price of $40.08 per share, with a total value of $1,919,791.92.
  • On Tuesday, September 6th, Corp Loews bought 48,199 shares of Loews stock. The stock was purchased at an average price of $39.56 per share, with a total value of $1,906,752.44.

Loews Price Performance

NYSE L opened at $52.88 on Thursday. The company has a 50 day simple moving average of $56.52 and a 200-day simple moving average of $60.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 12.27 and a beta of 0.81. Loews Co. has a 52-week low of $52.32 and a 52-week high of $68.20.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Wednesday, August 17th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Tuesday, August 16th. Loews’s dividend payout ratio (DPR) is 5.80%.

Analysts Set New Price Targets

Several research analysts have commented on L shares. TheStreet cut 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 research report on Wednesday, August 3rd.

Institutional Trading of Loews

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in Loews by 1.1% during the fourth quarter. State Street Corp now owns 9,709,517 shares of the insurance provider’s stock valued at $560,822,000 after acquiring an additional 110,003 shares in the last quarter. Norges Bank bought a new position in Loews during the fourth quarter valued at approximately $424,424,000. Geode Capital Management LLC raised its position in Loews by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 3,827,677 shares of the insurance provider’s stock valued at $220,509,000 after acquiring an additional 199,257 shares in the last quarter. Invesco Ltd. raised its position in Loews by 9.3% during the fourth quarter. Invesco Ltd. now owns 3,099,773 shares of the insurance provider’s stock valued at $179,043,000 after acquiring an additional 263,772 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Loews by 2.3% during the second quarter. Legal & General Group Plc now owns 2,034,208 shares of the insurance provider’s stock valued at $120,547,000 after acquiring an additional 45,387 shares in the last quarter. 58.61% of the stock is owned by hedge funds and other institutional investors.

Loews Company Profile

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

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