Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our common stock is listed on the New York Stock Exchange under the symbol “L”.
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, 2023. 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, 2018 and that all dividends were reinvested.
2018 2019 2020 2021 2022 2023
Loews Common Stock 100.0 115.89 100.03 128.92 130.74 156.60
S&P 500 Index 100.0 131.49 155.68 200.37 164.08 207.21
Loews Peer Group (a)
100.0 125.73 108.49 138.57 164.06 173.13
(a) The Loews Peer Group consists of the following companies that are industry peers of our principal operating subsidiaries or our investment in Altium Packaging: Berry Global, Inc., Chubb Limited, Diamond Rock Hospitality Company, Enbridge Inc., Energy Transfer LP, Kinder Morgan, Inc., Ryman Hospitality Properties, Inc., Silgan Holdings Inc., Sunstone Hotel Investors, Inc., The Hartford Financial Services Group, Inc., The Travelers Companies, Inc., W.R. Berkley Corporation and Xenia Hotels & Resorts, Inc.
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Securities Authorized for Issuance Under Equity Compensation Plans
The following table provides certain information as of December 31, 2023 with respect to our equity compensation plans under which our equity securities are authorized for issuance.
Plan category Number of
securities to be
issued upon exercise
of outstanding
options, warrants
and rights Weighted average exercise price of outstanding options, warrants and rights Number of
securities remaining available for future issuance under
equity compensation plans (excluding securities reflected
in the first column)
Equity compensation plans approved by
security holders (a)
1,065,547 $ 40.43 5,197,276
Equity compensation plans not approved by
security holders (b)
N/A N/A N/A
(a) Reflects 531,500 outstanding stock appreciation rights awarded under the Loews Corporation 2000 Stock Option Plan, 419,516 outstanding unvested time-based and/or performance-based restricted stock units (“RSUs”) and 114,531 deferred vested 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.
(b) We do not have equity compensation plans that have not been approved by our shareholders.
Approximate Number of Equity Security Holders
As of February 1, 2024, we had approximately 560 holders of record of our common stock.
Common Stock Repurchases
Our Board of Directors has authorized our management, as it deems appropriate, to purchase, in the open market, through privately negotiated transactions or otherwise, our outstanding common stock.
During the fourth quarter of 2023 , 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, 2023 - October 31, 2023
1,104,316 $ 63.40 N/A N/A
November 1, 2023 - November 30, 2023
252,096 64.98 N/A N/A
December 1, 2023 - December 31, 2023
785,300 68.45 N/A N/A
Item 6. [Reserved]
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