Loews Co. (NYSE:L) declared a quarterly dividend on Tuesday, February 11th, RTT News reports. Investors of record on Wednesday, February 26th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, March 10th. This represents a $0.25 annualized dividend and a yield of 0.46%.
Loews has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Loews to earn $3.20 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 7.8%.
NYSE L opened at $53.93 on Thursday. The business’s 50-day moving average price is $52.31 and its 200 day moving average price is $50.89. Loews has a twelve month low of $45.87 and a twelve month high of $56.88. The company has a market capitalization of $16.60 billion, a PE ratio of 17.62 and a beta of 0.64. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.51.
Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Loews had a return on equity of 4.88% and a net margin of 6.24%. The firm had revenue of $3.88 billion for the quarter. During the same quarter last year, the company posted ($0.28) earnings per share. Equities analysts predict that Loews will post 2.9 EPS for the current year.
A number of research firms have recently commented on L. TheStreet upgraded Loews from a “c+” rating to a “b-” rating in a report on Thursday, January 30th. TD Securities cut their price objective on Loews from $82.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Loews presently has an average rating of “Hold” and an average price target of $67.50.
In other news, insider Jonathan M. Tisch sold 18,427 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $52.75, for a total value of $972,024.25. Following the completion of the sale, the insider now owns 15,000 shares in the company, valued at $791,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard Waldo Scott sold 6,303 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $50.71, for a total value of $319,625.13. Following the completion of the sale, the senior vice president now owns 29,732 shares of the company’s stock, valued at approximately $1,507,709.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,899 shares of company stock worth $1,808,932. Company insiders own 14.20% of the company’s stock.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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