Loews Corporation’s director, Andrew Tisch, executed a significant stock sale on December 1, 2023, offloading 40,000 shares at an average price of $107.05. This transaction totaled approximately $4,282,000, resulting in a slight decrease of 0.31% in Tisch’s overall holdings. Following the sale, he retained 13,019,642 shares valued at around $1.39 billion.
The sale was formally reported in a filing with the U.S. Securities and Exchange Commission (SEC), which provides transparency regarding insider trading activities. Loews Corporation’s stock price experienced a minor decline on the subsequent trading day, falling by $0.55 to close at $105.76. During this session, a total of 748,136 shares changed hands, slightly below the average trading volume of 781,998 shares.
Loews Corporation currently boasts a market capitalization of $21.86 billion. The company’s price-to-earnings (P/E) ratio stands at 15.33, indicating its earnings in relation to its share price. The stock has seen considerable fluctuations over the past year, ranging from a low of $78.98 to a high of $109.06. The company maintains a debt-to-equity ratio of 0.44 and has current and quick ratios both at 0.35, reflecting its liquidity position.
Loews Corporation recently announced its quarterly earnings results on November 3, 2023, reporting earnings per share (EPS) of $2.43 for the quarter. The firm generated revenue of $4.67 billion during this period, achieving a net margin of 7.95% and a return on equity of 7.89%.
Several institutional investors have also been actively adjusting their holdings in Loews. Notably, Norges Bank acquired a new stake valued at approximately $665.66 million during the second quarter. Additionally, Nuveen LLC and Danske Bank A S made substantial investments of $34.17 million and $35.72 million, respectively, in earlier quarters. Dark Forest Capital Management LP significantly increased its stake by 582.8%, now holding 221,212 shares worth around $22.21 million.
According to recent data from MarketBeat.com, Loews Corporation enjoys a favorable average rating of “Strong Buy” from equity research analysts. Weiss Ratings has reiterated a “buy (A-)” rating on the shares, reflecting positive sentiment among market experts.
Loews Corporation specializes in providing commercial property and casualty insurance, offering a range of products that include management and professional liability, surety and fidelity bonds, property insurance, and various casualty insurance products. The company’s diverse portfolio positions it well within the competitive insurance landscape, making it a notable player in both domestic and international markets.
