Loews (NYSE:L) Posts Quarterly Earnings Results

Loews (NYSE:L) issued its quarterly earnings results on Monday. The insurance provider reported $1.50 EPS for the quarter, FiscalAI reports. Loews had a return on equity of 8.60% and a net margin of 9.02%. The firm had revenue of $4.76 billion for the quarter.

Loews Trading Down 0.0%

Shares of L stock opened at $111.30 on Monday. Loews has a 52-week low of $98.15 and a 52-week high of $121.01. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market capitalization of $22.75 billion, a PE ratio of 13.64 and a beta of 0.49. The stock has a fifty day simple moving average of $108.61 and a two-hundred day simple moving average of $109.33.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio is 3.06%.

Institutional Trading of Loews

Hedge funds have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. bought a new position in Loews during the second quarter valued at $26,000. Fiduciary Financial Advisors bought a new stake in shares of Loews in the 2nd quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Loews in the 2nd quarter worth about $28,000. Reyes Financial Architecture Inc. bought a new stake in shares of Loews in the 3rd quarter worth about $32,000. Finally, Elevation Wealth Partners LLC raised its position in shares of Loews by 245.9% during the 3rd quarter. Elevation Wealth Partners LLC now owns 422 shares of the insurance provider’s stock valued at $44,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Loews Company Profile

Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.

Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.