Loews Corporation (NYSE:L) declared a quarterly dividend on Tuesday, November 14th, RTT News reports. Shareholders of record on Wednesday, November 29th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, December 12th. This represents a $0.25 annualized dividend and a yield of 0.50%.
Loews Corporation has a payout ratio of 9.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Loews Corporation to earn $3.05 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 8.2%.
Loews Corporation (NYSE:L) traded up $0.38 during midday trading on Tuesday, reaching $49.89. 1,182,800 shares of the company’s stock traded hands, compared to its average volume of 849,153. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46. Loews Corporation has a one year low of $43.37 and a one year high of $49.99. The firm has a market capitalization of $16,666.61, a P/E ratio of 17.19 and a beta of 0.75.
Loews Corporation (NYSE:L) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.44. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. The company had revenue of $3.52 billion during the quarter. During the same quarter in the prior year, the company earned $0.89 EPS. The business’s revenue was up 7.1% on a year-over-year basis. sell-side analysts anticipate that Loews Corporation will post 2.75 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. ValuEngine downgraded shares of Loews Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of Loews Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.00.
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In related news, insider Jonathan M. Tisch sold 1,394,935 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the transaction, the insider now directly owns 2,169,075 shares of the company’s stock, valued at $104,983,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 1,395,132 shares of company stock valued at $67,524,613 in the last quarter. Insiders own 11.80% of the company’s stock.
Loews Corporation Company Profile
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.
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