Loews (NYSE:L) Posts Quarterly Earnings Results

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

Loews Stock Up 0.1%

L stock opened at $116.11 on Tuesday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews has a twelve month low of $90.53 and a twelve month high of $121.01. The company’s 50 day moving average is $111.77 and its two-hundred day moving average is $109.21. The stock has a market cap of $23.89 billion, a P/E ratio of 14.75 and a beta of 0.52.

Loews Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Loews

In related news, Director Dino Robusto bought 5,000 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.00% of the company’s stock.

Institutional Investors Weigh In On Loews

A number of institutional investors and hedge funds have recently bought and sold shares of L. Norges Bank acquired a new position in Loews in the fourth quarter valued at $577,279,000. Goldman Sachs Group Inc. boosted its stake in shares of Loews by 32.1% during 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 during the period. Caisse de depot et placement du Quebec boosted its stake in shares of Loews by 819.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after buying an additional 399,281 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after buying an additional 344,995 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Company Profile

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.