filings.toolsItem 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
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Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Price Range of Common Stock
Our common stock is listed on the New York Stock Exchange under the symbol “L.” The following table sets forth the reported high and low sales prices in each calendar quarter:
| 2017 | 2016 | |||||||||||||||
| High | Low | High | Low | |||||||||||||
| First Quarter | $ | 47.88 | $ | 45.25 | $ | 39.62 | $ | 33.84 | ||||||||
| Second Quarter | 48.39 | 45.62 | 41.09 | 37.25 | ||||||||||||
| Third Quarter | 49.58 | 45.01 | 42.07 | 39.67 | ||||||||||||
| Fourth Quarter | 51.02 | 47.64 | 48.05 | 40.61 |
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The following graph compares annual total return of our Common Stock, the Standard & Poor’s 500 Composite Stock Index (“S&P 500 Index”) and our peer group set forth below (“Loews Peer Group”) for the five years ended December 31, 2017. The graph assumes that the value of the investment in our Common Stock, the S&P 500 Index and the Loews Peer Group was $100 on December 31, 2012 and that all dividends were reinvested.
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | |||||||||||||||||||
| Loews Common Stock | 100.0 | 119.03 | 104.29 | 95.92 | 117.70 | 126.40 | ||||||||||||||||||
| S&P 500 Index | 100.0 | 132.39 | 150.51 | 152.59 | 170.84 | 208.14 | ||||||||||||||||||
| Loews Peer Group (a) | 100.0 | 125.98 | 132.68 | 125.62 | 145.82 | 150.20 |
| (a) | The Loews Peer Group consists of the following companies that are industry competitors of our principal operating subsidiaries: Chubb Limited (name change from ACE Limited after it acquired The Chubb Corporation on January 15, 2016), W.R. Berkley Corporation, The Chubb Corporation (included through January 15, 2016 when it was acquired by ACE Limited), Energy Transfer Partners L.P., Ensco plc, The Hartford Financial Services Group, Inc., Kinder Morgan Energy Partners, L.P. (included through November 26, 2014 when it was acquired by Kinder Morgan Inc.), Noble Corporation plc, Spectra Energy Corp (included through February 24, 2017 when it was acquired by Enbridge Inc.), Transocean Ltd. and The Travelers Companies, Inc. |
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Dividend Information
We have paid quarterly cash dividends in each year since 1967. Regular dividends of $0.0625 per share of Loews common stock were paid in each calendar quarter of 2017 and 2016.
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Securities Authorized for Issuance Under Equity Compensation Plans
The following table provides certain information as of December 31, 2017 with respect to our equity compensation plans under which our equity securities are authorized for issuance.
| Number of | |||||||||||||||
| securities remaining | |||||||||||||||
| Number of | available for future | ||||||||||||||
| securities to be | issuance under | ||||||||||||||
| issued upon exercise | Weighted average | equity compensation | |||||||||||||
| of outstanding | exercise price of | plans (excluding | |||||||||||||
| options, warrants | outstanding options, | securities reflected | |||||||||||||
| Plan category | and rights | warrants and rights | in the first column) | ||||||||||||
| Equity compensation plans approved by security holders (a) | 4,852,639 | $ | 40.05 | 5,825,173 | |||||||||||
| Equity compensation plans not approved by security holders (b) | N/A | N/A | N/A |
| (a) | Reflects 4,266,050 outstanding stock appreciation rights awarded under the Loews Corporation 2000 Stock Option Plan, 571,323 outstanding unvested time-based and performance-based restricted stock units (“RSUs”) and 15,266 deferred vested time-based RSUs awarded under the Loews Corporation 2016 Incentive Compensation Plan. The weighted average exercise price does not take into account RSUs as they do not have an exercise price. |
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| (b) | We do not have equity compensation plans that have not been approved by our shareholders. |
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Approximate Number of Equity Security Holders
As of February 2, 2018, we had approximately 800 holders of record of our common stock.
Common Stock Repurchases
During the fourth quarter of 2017, we purchased shares of our common stock as follows:
| Period | (a) Total number of shares purchased | (b) Average price paid per share | (c) Total number of shares purchased as part of publicly announced plans or programs | (d) Maximum number of shares (or approximate dollar value) of shares that may yet be purchased under the plans or programs (in millions) | ||||||||||||||||
| October 1, 2017 - October 31, 2017 | N/A | N/A | N/A | N/A | ||||||||||||||||
| November 1, 2017 - November 30, 2017 | 1,401,545 | $49.60 | N/A | N/A | ||||||||||||||||
| December 1, 2017 - December 31, 2017 | 3,228,573 | 49.97 | N/A | N/A |
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