Loews Co. (NYSE:L) Announces $0.06 Quarterly Dividend

Loews Co. (NYSE:L) declared a quarterly dividend on Tuesday, November 7th, RTT News reports. Stockholders of record on Wednesday, November 22nd will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, December 5th. This represents a $0.25 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, November 21st.

Loews Price Performance

L opened at $67.00 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $64.31 and its 200 day moving average price is $61.62. Loews has a fifty-two week low of $52.85 and a fifty-two week high of $67.46. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 11.47 and a beta of 0.80.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, October 30th. The insurance provider reported $1.12 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.95% and a net margin of 8.76%. The business had revenue of $3.93 billion for the quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price target on shares of Loews from $174.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com began coverage on shares of Loews in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Insider Buying and Selling

In other Loews news, Director Jonathan C. Locker purchased 15,870 shares of Loews stock in a transaction on Tuesday, October 31st. The stock was bought at an average price of $63.75 per share, for a total transaction of $1,011,712.50. Following the transaction, the director now owns 15,870 shares of the company’s stock, valued at approximately $1,011,712.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jonathan C. Locker acquired 15,870 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average price of $63.75 per share, for a total transaction of $1,011,712.50. Following the completion of the purchase, the director now directly owns 15,870 shares of the company’s stock, valued at $1,011,712.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Fribourg sold 561 shares of Loews stock in a transaction on Friday, September 1st. The shares were sold at an average price of $62.56, for a total value of $35,096.16. Following the transaction, the director now owns 3,292 shares in the company, valued at $205,947.52. The disclosure for this sale can be found here. Corporate insiders own 18.30% of the company’s stock.

Institutional Trading of Loews

A number of large investors have recently added to or reduced their stakes in L. Centiva Capital LP acquired a new position in shares of Loews in the second quarter worth about $227,000. XTX Topco Ltd acquired a new stake in Loews during the 2nd quarter valued at $227,000. Wealth Architects LLC purchased a new stake in shares of Loews in the first quarter valued at $214,000. Laurel Wealth Advisors Inc. acquired a new stake in shares of Loews in the first quarter worth $205,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Loews during the second quarter valued at $146,000. 54.03% of the stock is currently owned by institutional investors.

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 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.