Loews (NYSE:L) Announces Quarterly Earnings Results

Loews (NYSE:L) issued its 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 Price Performance

NYSE L opened at $86.65 on Monday. The company has a 50-day moving average price of $84.68 and a two-hundred day moving average price of $81.81. Loews has a 52 week low of $71.52 and a 52 week high of $87.45. The stock has a market cap of $18.87 billion, a price-to-earnings 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews’s dividend payout ratio is presently 3.32%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Loews

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

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.