Loews Co. (NYSE:L) Short Interest Up 9.9% in December

Loews Co. (NYSE:L - Get Free Report) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,780,000 shares, an increase of 9.9% from the December 15th total of 1,620,000 shares. Based on an average daily volume of 750,600 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.0% of the company's shares are sold short.

Loews Stock Up 0.2 %

Shares of L traded up $0.19 during trading hours on Monday, hitting $86.27. The company had a trading volume of 553,974 shares, compared to its average volume of 754,034. Loews has a one year low of $70.59 and a one year high of $87.45. The company's fifty day moving average price is $84.42 and its two-hundred day moving average price is $80.91. The company has a market capitalization of $18.79 billion, a PE ratio of 11.46 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

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

Insider Activity

In other news, Director Charles M. Diker sold 1,146 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the transaction, the director now owns 12,089,677 shares of the company's stock, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,679 shares of company stock valued at $11,134,916. 18.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Loews

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Loews during the third quarter valued at $40,000. Eastern Bank purchased a new position in Loews during the third quarter valued at approximately $47,000. Kimelman & Baird LLC purchased a new position in Loews during the second quarter valued at approximately $45,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews in the 3rd quarter worth approximately $49,000. Finally, Quest Partners LLC acquired a new stake in shares of Loews during the 3rd quarter worth approximately $129,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Loews from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th.

About Loews

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.