Loews (NYSE:L) Releases Quarterly Earnings Results

Loews (NYSE:L) released its earnings results on Monday. The insurance provider reported $2.16 EPS for the quarter, FiscalAI reports. Loews had a net margin of 9.02% and a return on equity of 8.66%. The business had revenue of $4.73 billion during the quarter.

Loews Stock Performance

NYSE:L opened at $115.83 on Wednesday. The company has a market cap of $23.83 billion, a P/E ratio of 14.72 and a beta of 0.52. Loews has a twelve month low of $92.93 and a twelve month high of $121.01. The company’s 50-day moving average price is $111.91 and its 200-day moving average price is $109.30. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews’s dividend payout ratio (DPR) is currently 3.18%.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was bought 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. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On Loews

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in shares of Loews by 2.3% in the 1st quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock worth $445,000 after acquiring an additional 95 shares during the last quarter. Lido Advisors LLC increased its position in Loews by 3.9% during the first quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 97 shares during the last quarter. Hancock Whitney Corp raised its stake in Loews by 3.9% during the third quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock worth $263,000 after purchasing an additional 98 shares during the period. IFM Investors Pty Ltd raised its stake in Loews by 0.3% during the fourth quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after purchasing an additional 100 shares during the period. Finally, Independent Advisor Alliance boosted its holdings in Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock valued at $274,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

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

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.