Loews Co. (NYSE:L) VP Mark S. Schwartz sold 9,083 shares of Loews stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $53.42, for a total transaction of $485,213.86. Following the completion of the transaction, the vice president now directly owns 5,000 shares in the company, valued at approximately $267,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE L traded up $0.12 during midday trading on Thursday, reaching $53.42. The company’s stock had a trading volume of 16,350 shares, compared to its average volume of 1,139,204. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.51. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $54.30. The company has a market capitalization of $16.34 billion, a PE ratio of 18.81 and a beta of 0.64.
Loews (NYSE:L) last posted its quarterly earnings data on Monday, April 29th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.31. Loews had a net margin of 5.17% and a return on equity of 4.72%. The company had revenue of $3.76 billion for the quarter. During the same quarter last year, the business earned $0.80 earnings per share. As a group, sell-side analysts expect that Loews Co. will post 3.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Wednesday, May 29th were issued a $0.0625 dividend. The ex-dividend date was Tuesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.47%. Loews’s dividend payout ratio (DPR) is presently 8.80%.
A number of brokerages have weighed in on L. Zacks Investment Research raised shares of Loews from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Barclays reiterated an “average” rating and issued a $72.00 price objective on shares of Loews in a report on Thursday, February 21st. Finally, Scotiabank reiterated an “average” rating and issued a $68.00 price objective on shares of Loews in a report on Friday, February 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $64.50.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Loews in the fourth quarter valued at $320,954,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Loews by 4,728.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,401,027 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 3,330,590 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Loews by 4.1% in the fourth quarter. BlackRock Inc. now owns 18,932,642 shares of the insurance provider’s stock valued at $861,813,000 after purchasing an additional 739,962 shares during the last quarter. FIL Ltd acquired a new position in shares of Loews in the first quarter valued at $33,254,000. Finally, California Public Employees Retirement System increased its holdings in shares of Loews by 33.4% in the fourth quarter. California Public Employees Retirement System now owns 1,610,859 shares of the insurance provider’s stock valued at $73,326,000 after purchasing an additional 403,256 shares during the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
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Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
Further Reading: Overbought
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