Loews (NYSE:L) Issues Earnings Results

Loews (NYSE:L) announced its quarterly earnings data on Monday. The insurance provider reported $2.16 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Price Performance

Shares of NYSE:L opened at $115.98 on Monday. Loews has a one year low of $89.32 and a one year high of $121.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 14.74 and a beta of 0.52. The firm has a 50 day simple moving average of $111.63 and a 200 day simple moving average of $109.12.

Loews Dividend Announcement

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

Insider Activity at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the purchase, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.00% of the company’s stock.

Institutional Trading of Loews

Several hedge funds and other institutional investors have recently made changes to their positions in L. DV Equities LLC bought a new stake in Loews during the 4th quarter worth approximately $25,000. Harbor Capital Advisors Inc. bought a new stake in shares of Loews in the 4th quarter valued at about $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews during the third quarter worth about $30,000. Private Trust Co. NA lifted its stake in shares of Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 269 shares during the period. Finally, SHP Wealth Management bought a new stake in Loews in the fourth quarter valued at approximately $35,000. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has an average 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.