Loews (NYSE:L) Posts Earnings Results

Key Points

• Loews reported earnings of $1.87 per share for the quarter, with a return on equity of 7.43% and a net margin of 7.47%.
• The company declared a quarterly dividend of $0.0625 per share, resulting in an annualized dividend of $0.25 and a yield of 0.3%.
• Wall Street analysts upgraded Loews from a "hold" rating to a "buy" rating, indicating growing confidence in the company's performance.

Loews (NYSE:L - Get Free Report) released its quarterly earnings results on Monday. The insurance provider reported $1.87 earnings per share (EPS) for the quarter, Zacks reports. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Stock Performance

NYSE L opened at $90.20 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. The firm has a market cap of $18.91 billion, a P/E ratio of 14.81 and a beta of 0.69. Loews has a 52-week low of $75.16 and a 52-week high of $93.23. The business's 50-day moving average price is $90.13 and its 200 day moving average price is $87.61.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. Loews's dividend payout ratio (DPR) is currently 4.11%.

Insider Buying and Selling

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president owned 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Loews

A number of hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in Loews by 12.2% in the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider's stock valued at $350,000 after purchasing an additional 414 shares during the period. Integrated Wealth Concepts LLC lifted its position in Loews by 22.6% in the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider's stock valued at $329,000 after purchasing an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Loews by 9.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider's stock valued at $2,108,000 after purchasing an additional 2,057 shares during the period. Finally, Woodline Partners LP lifted its position in Loews by 37.5% in the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider's stock valued at $1,372,000 after purchasing an additional 4,071 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

About Loews

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.

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