Loews Co. (NYSE:L – Get Rating) announced a quarterly dividend on Tuesday, May 10th, RTT News reports. Investors of record on Wednesday, May 25th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, June 7th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.40%.
L stock traded down $0.70 during midday trading on Tuesday, reaching $62.38. 9,544 shares of the company’s stock traded hands, compared to its average volume of 797,330. The company has a 50-day moving average price of $63.73 and a two-hundred day moving average price of $60.28. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. Loews has a 52 week low of $51.35 and a 52 week high of $68.20. The firm has a market capitalization of $15.35 billion, a PE ratio of 9.89 and a beta of 0.85.
Loews (NYSE:L – Get Rating) last issued its earnings results on Monday, February 7th. The insurance provider reported $1.37 earnings per share (EPS) for the quarter. The business had revenue of $3.66 billion for the quarter. Loews had a net margin of 11.46% and a return on equity of 6.47%.
In other news, SVP Kenneth I. Siegel sold 16,888 shares of the stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $61.96, for a total transaction of $1,046,380.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Marc A. Alpert sold 2,990 shares of the stock in a transaction dated Thursday, February 10th. The stock was sold at an average price of $61.96, for a total transaction of $185,260.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,381 shares of company stock valued at $1,574,042. Company insiders own 17.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management purchased a new position at Loews in the 4th quarter worth approximately $35,000. Autumn Glory Partners LLC bought a new position in Loews in the 4th quarter worth $283,000. NewEdge Advisors LLC bought a new position in Loews in the 4th quarter worth $304,000. Squarepoint Ops LLC increased its holdings in Loews by 43.6% in the 4th quarter. Squarepoint Ops LLC now owns 5,692 shares of the insurance provider’s stock worth $329,000 after buying an additional 1,727 shares during the period. Finally, LPL Financial LLC increased its holdings in Loews by 31.7% in the 3rd quarter. LPL Financial LLC now owns 11,313 shares of the insurance provider’s stock worth $610,000 after buying an additional 2,725 shares during the period. 61.13% of the stock is owned by institutional investors.
Separately, StockNews.com upgraded shares of Loews from a “hold” rating to a “buy” rating in a research report on Monday.
About Loews (GetRating)
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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers’ compensation, general and product liability, and commercial auto and umbrella coverages.
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