Loews (NYSE:L) Stock Price Down 4% - Should You Sell?

Loews Co. (NYSE:L - Get Free Report)'s share price dropped 4% during mid-day trading on Monday . The stock traded as low as $76.00 and last traded at $76.08. Approximately 113,402 shares traded hands during trading, a decline of 84% from the average daily volume of 705,038 shares. The stock had previously closed at $79.27.

Analysts Set New Price Targets

L has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their price target on Loews from $115.00 to $112.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada raised Loews to a "moderate buy" rating in a research note on Friday, July 26th.

Loews Stock Performance

The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $16.80 billion, a P/E ratio of 11.20 and a beta of 0.82. The company's 50 day moving average is $79.62 and its 200-day moving average is $77.73.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st were paid a $0.0625 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.33%. Loews's dividend payout ratio is presently 3.66%.

Insider Activity at Loews

In other news, Director Ann E. Berman sold 1,087 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company's stock, valued at $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jonathan M. Tisch sold 25,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares of the company's stock, valued at approximately $37,751,338.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the sale, the director now directly owns 4,998 shares of the company's stock, valued at $406,737.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,587 shares of company stock valued at $7,186,460 in the last three months. Corporate insiders own 18.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Loews by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider's stock valued at $1,656,376,000 after buying an additional 507,513 shares during the last quarter. Swedbank AB bought a new position in shares of Loews during the first quarter valued at about $23,646,000. TD Asset Management Inc boosted its holdings in Loews by 77.9% during the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider's stock worth $39,307,000 after purchasing an additional 230,231 shares during the last quarter. Bank of Montreal Can grew its position in Loews by 106.3% in the 2nd quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider's stock worth $27,338,000 after purchasing an additional 182,009 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Loews in the 2nd quarter worth about $13,379,000. Institutional investors own 58.33% of the company's stock.

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.