Dino Robusto Purchases 5,000 Shares of Loews (NYSE:L) Stock

Loews Corporation (NYSE:L) Director Dino Robusto bought 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Loews Stock Performance

NYSE L traded up $1.01 during trading hours on Monday, reaching $104.56. The company’s stock had a trading volume of 142,612 shares, compared to its average volume of 735,655. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The stock has a market cap of $21.52 billion, a PE ratio of 13.29 and a beta of 0.53. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90. The business has a 50-day simple moving average of $107.95 and a 200 day simple moving average of $106.99.

Loews (NYSE:L) last posted its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The company had revenue of $4.56 billion for the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, May 27th. Loews’s payout ratio is currently 3.18%.

Institutional Trading of Loews

Several institutional investors and hedge funds have recently bought and sold shares of L. Lido Advisors LLC increased its holdings in shares of Loews by 3.9% in the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 97 shares during the period. Hancock Whitney Corp increased its stake in shares of Loews by 3.9% in the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock worth $263,000 after acquiring an additional 98 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of Loews by 0.3% in the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after acquiring an additional 100 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Loews by 4.3% in the fourth quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock worth $274,000 after acquiring an additional 107 shares during the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Loews by 2.7% in the fourth quarter. Ballentine Partners LLC now owns 4,197 shares of the insurance provider’s stock worth $442,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.