Marc Alpert Sells 3,495 Shares of Loews (NYSE:L) Stock

by · The Cerbat Gem

Loews Corporation (NYSE:L – Get Free Report) VP Marc Alpert sold 3,495 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total value of $383,995.65. Following the completion of the transaction, the vice president directly owned 16,325 shares of the company’s stock, valued at approximately $1,793,627.75. This trade represents a 17.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Loews Trading Up 0.2%

NYSE L traded up $0.17 during trading hours on Wednesday, hitting $110.13. 685,948 shares of the company’s stock were exchanged, compared to its average volume of 736,502. The firm has a market capitalization of $22.76 billion, a P/E ratio of 13.80 and a beta of 0.61. The business’s 50 day moving average is $105.15 and its 200-day moving average is $101.20. Loews Corporation has a 12-month low of $78.98 and a 12-month high of $114.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35.

Loews (NYSE:L – Get Free Report) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. The business had revenue of $4.73 billion for the quarter. Loews had a net margin of 9.03% and a return on equity of 8.99%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th. Loews’s payout ratio is presently 3.13%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

View Our Latest Report on Loews

Hedge Funds Weigh In On Loews

Several institutional investors and hedge funds have recently made changes to their positions in the company. CPC Advisors LLC acquired a new position in shares of Loews in the third quarter valued at approximately $6,568,000. Swedbank AB raised its stake in Loews by 9.7% during the 3rd quarter. Swedbank AB now owns 443,106 shares of the insurance provider’s stock worth $44,483,000 after buying an additional 39,313 shares during the period. Assetmark Inc. lifted its holdings in shares of Loews by 182.2% in the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock worth $180,000 after purchasing an additional 1,270 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Loews in the 3rd quarter worth about $3,827,000. Finally, Permanent Capital Management LP bought a new stake in Loews during the third quarter worth $1,551,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Company Profile

(Get Free Report)

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.

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