Loews (NYSE:L) Posts Quarterly Earnings Results

Loews (NYSE:L - Get Free Report) posted its earnings results on Monday. The insurance provider reported $1.74 earnings per share (EPS) for the quarter, Zacks reports. The business had revenue of $4.49 billion for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Trading Up 1.3 %

Shares of NYSE L traded up $1.13 during trading hours on Wednesday, hitting $87.91. 667,556 shares of the company traded hands, compared to its average volume of 731,980. Loews has a 12 month low of $73.15 and a 12 month high of $92.42. The stock has a market capitalization of $18.49 billion, a price-to-earnings ratio of 13.74 and a beta of 0.70. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company's 50 day moving average price is $86.52 and its 200 day moving average price is $84.83.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's payout ratio is 3.91%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Loews from a "hold" rating to a "buy" rating in a research note on Tuesday.

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $84.66, for a total value of $4,233,000.00. Following the completion of the sale, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,327 shares of company stock worth $12,851,055. Insiders own 19.00% of the company's stock.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.