Loews (NYSE:L) Announces Quarterly Earnings Results

Loews (NYSE:L) issued its quarterly earnings data on Monday. The insurance provider reported $1.63 earnings per share (EPS) for the quarter, FiscalAI reports. Loews had a net margin of 9.03% and a return on equity of 8.86%. The company had revenue of $4.56 billion for the quarter.

Loews Stock Performance

Shares of L stock opened at $104.91 on Tuesday. The company has a market cap of $21.59 billion, a price-to-earnings ratio of 13.15 and a beta of 0.56. The stock has a 50 day simple moving average of $109.11 and a 200-day simple moving average of $106.14. Loews has a 12-month low of $85.10 and a 12-month high of $114.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews’s dividend payout ratio is 3.13%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Insider Transactions at Loews

In related news, Director Ann E. Berman sold 1,922 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the sale, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the transaction, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. The trade was a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 105,417 shares of company stock valued at $11,549,723. Corporate insiders own 19.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in L. CPC Advisors LLC purchased a new stake in shares of Loews in the 3rd quarter worth about $6,568,000. Cibc World Market Inc. boosted its position in shares of Loews by 448.6% in the 3rd quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock worth $2,464,000 after buying an additional 20,067 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Loews in the 3rd quarter worth about $2,748,000. Truist Financial Corp boosted its position in shares of Loews by 388.3% in the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock worth $1,439,000 after buying an additional 11,396 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Loews in the 3rd quarter worth about $3,827,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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.