Ann E. Berman Sells 2,216 Shares of Loews Co. (L) Stock

Loews Co. (NYSE:L) Director Ann E. Berman sold 2,216 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total value of $109,182.32. Following the completion of the transaction, the director now owns 1,500 shares of the company’s stock, valued at $73,905. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Loews stock opened at $49.59 on Friday. The stock has a market cap of $15.63 billion, a P/E ratio of 14.80 and a beta of 0.68. Loews Co. has a 52 week low of $44.78 and a 52 week high of $53.59. The company has a current ratio of 0.33, a quick ratio of 0.35 and a debt-to-equity ratio of 0.52.

Loews (NYSE:L) last posted its earnings results on Monday, November 5th. The insurance provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.10). The company had revenue of $3.61 billion for the quarter. Loews had a return on equity of 4.75% and a net margin of 8.94%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts anticipate that Loews Co. will post 3.55 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in Loews by 2.0% in the third quarter. BlackRock Inc. now owns 18,192,680 shares of the insurance provider’s stock valued at $913,818,000 after purchasing an additional 357,382 shares during the period. Boston Partners grew its holdings in Loews by 1.3% in the second quarter. Boston Partners now owns 8,256,576 shares of the insurance provider’s stock valued at $398,628,000 after purchasing an additional 109,345 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Loews by 1.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,758,393 shares of the insurance provider’s stock valued at $278,015,000 after purchasing an additional 54,226 shares during the period. Wells Fargo & Company MN grew its holdings in Loews by 1.5% in the third quarter. Wells Fargo & Company MN now owns 5,635,278 shares of the insurance provider’s stock valued at $283,059,000 after purchasing an additional 84,254 shares during the period. Finally, Marathon Asset Management LLP grew its holdings in Loews by 0.3% in the second quarter. Marathon Asset Management LLP now owns 2,170,602 shares of the insurance provider’s stock valued at $104,794,000 after purchasing an additional 7,308 shares during the period. 62.57% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Deutsche Bank raised their price objective on Loews from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Loews presently has an average rating of “Hold” and a consensus price target of $53.68.

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About Loews

Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.

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