Loews Co. (NYSE:L) Short Interest Update

Loews Co. (NYSE:L) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 1,780,000 shares, an increase of 9.9% from the December 31st total of 1,620,000 shares. Based on an average trading volume of 750,600 shares, the short-interest ratio is presently 2.4 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th.

Loews Trading Down 0.2 %

Shares of NYSE L traded down $0.15 during trading on Monday, reaching $85.31. The stock had a trading volume of 683,728 shares, compared to its average volume of 668,358. The business’s 50-day moving average price is $84.73 and its 200-day moving average price is $81.57. Loews has a fifty-two week low of $71.52 and a fifty-two week high of $87.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.58 billion, a P/E ratio of 11.33 and a beta of 0.83.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.82 earnings per share for the quarter. The firm had revenue of $4.47 billion during the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

Insider Transactions at Loews

In related news, Director Charles M. Diker sold 1,146 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the transaction, the director now directly owns 19,906 shares of the company’s stock, valued at $1,728,437.98. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. The trade was a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 133,679 shares of company stock valued at $11,134,916. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of Loews

A number of large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of Loews by 1.0% during the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after acquiring an additional 82,581 shares in the last quarter. Geode Capital Management LLC raised its holdings in Loews by 1.3% during the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after purchasing an additional 53,428 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Loews by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock worth $268,640,000 after buying an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Loews by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after buying an additional 8,615 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Loews by 13.1% in the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider’s stock valued at $59,473,000 after buying an additional 87,259 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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.