Loews Co. (NYSE:L) SVP Richard Waldo Scott sold 4,591 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $47.80, for a total transaction of $219,449.80. Following the completion of the transaction, the senior vice president now owns 29,732 shares in the company, valued at $1,421,189.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of L stock traded down $0.11 during trading hours on Friday, reaching $47.78. The stock had a trading volume of 2,078,829 shares, compared to its average volume of 1,203,280. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.53. Loews Co. has a twelve month low of $42.06 and a twelve month high of $53.04. The stock has a market cap of $14.81 billion, a PE ratio of 16.82 and a beta of 0.66.
Loews (NYSE:L) last released its quarterly earnings data on Monday, February 11th. The insurance provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($1.06). Loews had a return on equity of 4.16% and a net margin of 4.52%. The firm had revenue of $3.29 billion during the quarter. During the same quarter in the previous year, the business posted $0.81 earnings per share. Equities analysts forecast that Loews Co. will post 3.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Wednesday, February 27th were issued a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews’s dividend payout ratio (DPR) is presently 8.80%.
L has been the topic of a number of recent research reports. Scotiabank restated an “average” rating and issued a $68.00 price target on shares of Loews in a research report on Friday, February 22nd. Barclays restated an “average” rating and issued a $72.00 price target on shares of Loews in a research report on Thursday, February 21st. CIBC restated an “average” rating and issued a $70.00 price target on shares of Loews in a research report on Thursday, November 15th. Finally, Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.24.
Several hedge funds have recently added to or reduced their stakes in L. Clean Yield Group acquired a new position in Loews during the 4th quarter valued at about $39,000. JOYN Advisors Inc. increased its stake in Loews by 338.6% during the 4th quarter. JOYN Advisors Inc. now owns 943 shares of the insurance provider’s stock valued at $43,000 after buying an additional 728 shares during the period. Stamos Capital Partners L.P. acquired a new position in Loews during the 4th quarter valued at about $53,000. JNBA Financial Advisors acquired a new position in Loews during the 4th quarter valued at about $55,000. Finally, Captrust Financial Advisors increased its stake in Loews by 100.9% during the 4th quarter. Captrust Financial Advisors now owns 1,340 shares of the insurance provider’s stock valued at $61,000 after buying an additional 673 shares during the period. 63.21% of the stock is currently owned by institutional investors and hedge funds.
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Loews Corp. is a holding company, which engages in the oil and gas business. It operates through the following segments: CNA Financial, Diamond Offshore, Boardwalk Pipeline, Loews Hotels and Corporate. The CNA Financial segment offers property, casualty, insurance, and underwriting services. The Diamond Offshore segment manages drilling rigs.
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