Loews (NYSE:L) Releases Quarterly Earnings Results

Loews (NYSE:L) issued its quarterly earnings results on Monday. The insurance provider reported $2.43 earnings per share (EPS) for the quarter, Zacks reports. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Trading Up 0.0%

Shares of Loews stock opened at $99.56 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $98.73 and its 200-day simple moving average is $93.08. Loews has a 52-week low of $75.16 and a 52-week high of $103.52. The firm has a market cap of $20.65 billion, a price-to-earnings ratio of 15.83 and a beta of 0.73.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, August 20th. Loews’s payout ratio is 3.97%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in L. Integrated Wealth Concepts LLC grew its position in Loews by 22.6% during the first quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after buying an additional 658 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Loews by 9.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock worth $2,108,000 after purchasing an additional 2,057 shares during the last quarter. Empowered Funds LLC raised its holdings in Loews by 12.2% during the first quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 414 shares during the last quarter. Woodline Partners LP raised its holdings in Loews by 37.5% during the first quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after purchasing an additional 4,071 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Loews by 53.5% during the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock worth $656,000 after purchasing an additional 2,493 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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.