Loews (NYSE:L) Announces Quarterly Earnings Results

Loews (NYSE:L) released its quarterly earnings results on Monday. The insurance provider reported $0.86 earnings per share (EPS) for the quarter, Zacks reports. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Loews Trading Down 0.2 %

NYSE:L opened at $86.65 on Monday. The company has a market capitalization of $18.87 billion, a P/E ratio of 11.51 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. Loews has a 12 month low of $71.52 and a 12 month high of $87.45. The firm has a fifty day simple moving average of $84.68 and a 200-day simple moving average of $81.81.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews’s payout ratio is 3.32%.

Insider Activity at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the sale, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. The trade was a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock valued at $11,134,916 in the last ninety days. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

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.