Loews Corporation (NYSE:L) insider Kenneth I. Siegel sold 1,940 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $49.86, for a total transaction of $96,728.40. Following the transaction, the insider now owns 11,250 shares of the company’s stock, valued at approximately $560,925. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Loews Corporation (NYSE:L) traded up $0.08 during midday trading on Wednesday, reaching $51.21. 945,730 shares of the company were exchanged, compared to its average volume of 1,050,000. The firm has a market cap of $17,240.00, a PE ratio of 17.78 and a beta of 0.74. Loews Corporation has a 12-month low of $45.01 and a 12-month high of $51.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35.
Loews (NYSE:L) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.44. Loews had a net margin of 7.04% and a return on equity of 4.08%. The company had revenue of $3.52 billion for the quarter. During the same period in the prior year, the business earned $0.89 earnings per share. Loews’s revenue for the quarter was up 7.1% on a year-over-year basis. analysts predict that Loews Corporation will post 2.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 29th were given a $0.0625 dividend. The ex-dividend date was Tuesday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.49%. Loews’s dividend payout ratio is presently 8.68%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Loews by 5.6% in the third quarter. Parametric Portfolio Associates LLC now owns 588,583 shares of the insurance provider’s stock worth $28,170,000 after acquiring an additional 30,973 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Loews in the third quarter worth approximately $335,000. IFM Investors Pty Ltd acquired a new stake in shares of Loews in the third quarter worth approximately $420,000. Eii Capital Management Inc. acquired a new stake in shares of Loews in the third quarter worth approximately $2,659,000. Finally, California Public Employees Retirement System boosted its position in shares of Loews by 4.4% in the third quarter. California Public Employees Retirement System now owns 774,579 shares of the insurance provider’s stock worth $37,071,000 after acquiring an additional 32,299 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.
L has been the subject of several research reports. Zacks Investment Research upgraded shares of Loews from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Friday, January 5th. ValuEngine downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th.
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Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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