Loews Corporation (NYSE:L) Plans $0.06 Quarterly Dividend

Loews Corporation (NYSE:L) announced a quarterly dividend on Tuesday, February 10th. Shareholders of record on Wednesday, February 25th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, March 10th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, February 25th.

Loews Stock Up 0.2%

Shares of L stock traded up $0.26 during mid-day trading on Wednesday, hitting $110.22. The company’s stock had a trading volume of 261,270 shares, compared to its average volume of 732,544. The stock has a market cap of $22.78 billion, a price-to-earnings ratio of 13.81 and a beta of 0.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. Loews has a 52-week low of $78.98 and a 52-week high of $114.90. The business has a 50-day moving average price of $105.15 and a 200 day moving average price of $101.20.

Loews (NYSE:L) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. The company had revenue of $4.73 billion during the quarter. Loews had a return on equity of 8.99% and a net margin of 9.03%.

Insider Activity

In other Loews news, Director Walter L. Harris sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $107.88, for a total value of $155,562.96. Following the completion of the sale, the director owned 24,594 shares in the company, valued at $2,653,200.72. This represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the transaction, the director owned 12,909,642 shares of the company’s stock, valued at approximately $1,356,416,084.94. This trade represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 125,770 shares of company stock worth $13,325,818. Company insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in L. Vanguard Group Inc. increased its holdings in Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after acquiring an additional 108,882 shares during the last quarter. Norges Bank purchased a new position in shares of Loews during the second quarter valued at about $665,658,000. Geode Capital Management LLC increased its holdings in shares of Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after purchasing an additional 271,234 shares during the last quarter. Invesco Ltd. lifted its position in shares of Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Loews by 32.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after buying an additional 786,381 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

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.