Richard Waldo Scott Sells 6,471 Shares of Loews Corporation (L) Stock
Loews Corporation (NYSE:L) SVP Richard Waldo Scott sold 6,471 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $49.80, for a total value of $322,255.80. Following the sale, the senior vice president now owns 11,250 shares in the company, valued at approximately $560,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Loews Corporation (NYSE L) traded up $0.02 during midday trading on Friday, hitting $49.22. The company’s stock had a trading volume of 1,027,110 shares, compared to its average volume of 853,138. Loews Corporation has a 1 year low of $43.70 and a 1 year high of $49.99. The company has a market cap of $16,560.00, a price-to-earnings ratio of 17.34 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.35 and a quick ratio of 0.35.
Loews Corporation (NYSE:L) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.44. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. The firm had revenue of $3.52 billion for the quarter. During the same quarter last year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. analysts forecast that Loews Corporation will post 2.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 29th will be given a $0.0625 dividend. The ex-dividend date is Tuesday, November 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.51%. Loews Corporation’s dividend payout ratio (DPR) is presently 8.68%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commerce Bank grew its position in shares of Loews Corporation by 0.3% in the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock valued at $339,000 after buying an additional 24 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Loews Corporation by 1.0% in the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after buying an additional 27 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. grew its position in shares of Loews Corporation by 0.9% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,076 shares of the insurance provider’s stock valued at $284,000 after buying an additional 57 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Loews Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock valued at $1,327,000 after buying an additional 73 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 58.62% of the company’s stock.
L has been the topic of a number of research reports. BidaskClub lowered Loews Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. ValuEngine lowered Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research lowered Loews Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $35.00.
About Loews Corporation
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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