Loews (NYSE:L) Issues Quarterly Earnings Results

Loews (NYSE:L) announced its earnings results on Monday. The insurance provider reported $1.50 earnings per share for the quarter, FiscalAI reports. Loews had a net margin of 9.02% and a return on equity of 8.60%. The company had revenue of $4.76 billion during the quarter.

Loews Stock Performance

Loews stock opened at $111.42 on Tuesday. The company has a market cap of $22.78 billion, a PE ratio of 13.51 and a beta of 0.50. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.44. Loews has a 1 year low of $98.15 and a 1 year high of $121.01. The company’s 50-day moving average is $108.64 and its two-hundred day moving average is $109.37.

Institutional Investors Weigh In On Loews

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC raised its position in shares of Loews by 6.1% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 29,410 shares of the insurance provider’s stock valued at $3,071,000 after acquiring an additional 1,703 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of Loews in the 3rd quarter valued at $772,000. Inscription Capital LLC lifted its stake in shares of Loews by 2.5% in the 3rd quarter. Inscription Capital LLC now owns 7,363 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 180 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Loews by 82.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,582 shares of the insurance provider’s stock worth $961,000 after purchasing an additional 3,884 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its position in shares of Loews by 0.4% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 256,765 shares of the insurance provider’s stock worth $26,814,000 after purchasing an additional 910 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

Trending Headlines about Loews

Here are the key news stories impacting Loews this week:

• Positive Sentiment: Loews reported third-quarter revenue of approximately $4.76 billion and earnings of $1.50 per share, with coverage describing the result as an analyst beat. The report supports investor confidence in the company’s diversified operations. Loews Q3 Earnings Fall, Revenue Increases
• Positive Sentiment: Shares initially rose following the results, indicating that investors considered the earnings beat and revenue growth more important than the decline in reported net income. Loews Shares Rise Following Third-Quarter Earnings Beat
• Positive Sentiment: Loews’ hotel business showed growth, providing an offset to weakness at its CNA insurance subsidiary and supporting the company’s diversified business model. Loews Q3 Results: CNA Weakness, Hotel Growth and Pipeline Headwinds

About Loews

Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.