Andrew Tisch, a director at Loews Corporation, sold 40,000 shares of the company’s stock on December 1, 2023, in a transaction valued at approximately $4.28 million. The shares were sold at an average price of $107.05. Following this transaction, Tisch retains ownership of 13,019,642 shares, which are now valued at around $1.39 billion. This represents a reduction of 0.31% in his overall holdings.
The sale was disclosed in a filing with the U.S. Securities and Exchange Commission, which is publicly available for review. The stock’s performance saw a slight decline on Wednesday, with shares trading down by $0.55 to close at $105.76. During the day, 748,136 shares changed hands, compared to the company’s average trading volume of 781,998 shares.
Loews currently boasts a market capitalization of $21.86 billion. The company has a price-to-earnings (P/E) ratio of 15.33 and a beta value of 0.62. Over the past twelve months, the stock has fluctuated between a low of $78.98 and a high of $109.06. Financial metrics indicate a debt-to-equity ratio of 0.44, a current ratio of 0.35, and a quick ratio of 0.35.
Recent Earnings and Institutional Activity
Loews Corporation recently reported its quarterly earnings on November 3, 2023, revealing earnings per share (EPS) of $2.43 and total revenue of $4.67 billion. The company achieved a net margin of 7.95% and a return on equity of 7.89% during this period.
In addition to insider trading activity, several institutional investors have adjusted their stakes in Loews. Notably, Norges Bank acquired a new stake valued at approximately $665.66 million in the second quarter. Other significant transactions include Nuveen LLC, which purchased a position worth $34.17 million, and Danske Bank A/S, which added shares valued at $35.72 million.
One of the more remarkable increases came from Dark Forest Capital Management LP, which expanded its holdings by an impressive 582.8%, acquiring an additional 188,812 shares during the last quarter. Institutional ownership of Loews currently stands at 58.33% of the company’s stock.
Analyst Ratings and Company Overview
As for analyst ratings, Weiss Ratings reaffirmed a “buy (A-)” rating for Loews in a recent report. According to data from MarketBeat.com, the company holds an average rating of “Strong Buy” from analysts.
Loews Corporation operates in the commercial property and casualty insurance sector, providing a range of specialty insurance products, including management and professional liability, surety and fidelity bonds, and various property insurance offerings. The company serves both domestic and international markets, showcasing a robust portfolio designed to meet diverse client needs.
This recent activity around Loews Corporation highlights both insider trading trends and evolving institutional interest, reflecting a dynamic environment for investors and stakeholders alike.
