Key Points
- Loews director Dino Robusto bought 5,000 shares on May 29 at an average price of $104.74, a transaction worth $523,700. His holdings rose to 10,235 shares, nearly doubling his ownership.
- The purchase was disclosed in an SEC filing, highlighting a notable insider vote of confidence in the diversified holding company.
- Loews shares recently traded around $103.89, and the company also reported quarterly EPS of $1.63 on $4.56 billion in revenue, while maintaining a quarterly dividend of $0.0625 per share.
Loews Corporation (NYSE:L - Get Free Report) Director Dino Robusto acquired 5,000 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the completion of the purchase, the director owned 10,235 shares of the company's stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Loews Stock Performance
Shares of Loews stock opened at $103.89 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. The company has a market cap of $21.38 billion, a PE ratio of 13.20 and a beta of 0.53. The business has a 50 day moving average price of $107.91 and a 200-day moving average price of $106.99. Loews Corporation has a 52 week low of $86.77 and a 52 week high of $114.90.
Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The company had revenue of $4.56 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.
Loews Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, May 27th. Loews's dividend payout ratio (DPR) is presently 3.18%.
Institutional Trading of Loews
Large investors have recently bought and sold shares of the company. DV Equities LLC purchased a new stake in Loews in the fourth quarter worth $25,000. Harbor Capital Advisors Inc. purchased a new stake in Loews in the fourth quarter worth $27,000. Harbor Investment Advisory LLC purchased a new stake in Loews in the fourth quarter worth $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the third quarter worth $30,000. Finally, Private Trust Co. NA increased its position in Loews by 896.7% in the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock worth $31,000 after buying an additional 269 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Loews in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Loews presently has an average rating of "Strong Buy".
Read Our Latest Analysis on Loews
About Loews
(
Get Free Report)
Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.
One of Loews' principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.
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