Loews (NYSE:L) Director Purchases $523,700.00 in Stock

Loews Corporation (NYSE:L) Director Dino Robusto acquired 5,000 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Loews Stock Down 0.3%

Shares of NYSE:L opened at $104.63 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a 52-week low of $86.77 and a 52-week high of $114.90. The company has a 50 day moving average of $107.87 and a two-hundred day moving average of $107.00. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 13.29 and a beta of 0.53.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is 3.18%.

Institutional Trading of Loews

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after buying an additional 108,882 shares in the last quarter. Norges Bank acquired a new stake in shares of Loews during the fourth quarter worth approximately $577,279,000. Geode Capital Management LLC grew its position in shares of Loews by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after buying an additional 271,234 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Loews by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after buying an additional 344,995 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Loews by 0.4% during the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock worth $337,698,000 after buying an additional 12,311 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.