Loews corp director emeritus Jonathan Tisch sells $8.48 million in stock

Published 13/03/2025, 21:50
Loews corp director emeritus Jonathan Tisch sells $8.48 million in stock

Jonathan M. Tisch, Director Emeritus of Loews Corp (NYSE:L), has recently sold a significant portion of the company’s stock, according to a filing with the Securities and Exchange Commission. The sale comes as Loews, with its $18 billion market capitalization, trades at a P/E ratio of 13.2 and has delivered a 10.6% return over the past year. Over a series of transactions from March 11 to March 13, Tisch disposed of 100,000 shares of Loews Corp common stock. These transactions were executed at prices ranging from $84.52 to $84.88 per share, resulting in a total sale value of approximately $8.48 million. According to InvestingPro, the stock currently trades near its 52-week high of $88.29, with analysis suggesting the shares may be undervalued.

Following these transactions, Tisch now holds 6,705,529 shares directly, with additional shares held indirectly by trusts and by his spouse. The sales were conducted as part of a series of planned transactions, with no indication of any strategic shift in Tisch’s investment approach toward Loews Corp. Notably, InvestingPro data reveals the company has maintained dividend payments for 55 consecutive years, demonstrating long-term financial stability. Get access to more detailed insights and 12+ additional ProTips by subscribing to InvestingPro.

In other recent news, Loews Corporation reported a decline in its fourth-quarter earnings, primarily due to higher catastrophe and investment losses at its insurance subsidiary, CNA Financial. The company posted a net income of $187 million, or $0.86 per share, down from $446 million, or $1.99 per share, in the same quarter last year. However, revenue increased to $4.55 billion from $4.26 billion year-over-year. The results included a $265 million after-tax pension settlement charge at CNA Financial, which significantly impacted earnings. Excluding this charge, net income would have been $452 million.

In other developments, Loews Corporation announced changes in executive compensation following a leadership transition with Benjamin J. Tisch assuming the role of President and CEO. The new compensation structure includes a base salary of $1 million and special stock appreciation rights (SARs) awards for key executives. These SARs are intended to incentivize and retain executives, with a grant date fair value of $4,093,500 for the Tisch brothers and $3,070,125 for CFO Jane Wang. Additionally, Loews repurchased 4.2 million shares of its common stock for $349 million during the quarter, contributing to a total of 7.7 million shares bought back for $611 million in 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.