Loews (L) Issues Quarterly Earnings Results

Loews (NYSE:L) released its earnings results on Monday. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.12, Morningstar.com reports. Loews had a return on equity of 4.08% and a net margin of 7.04%. The company had revenue of $3.56 billion for the quarter. During the same quarter in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

Loews (L) opened at $46.73 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews has a 52-week low of $45.01 and a 52-week high of $53.59. The stock has a market capitalization of $15,730.78, a P/E ratio of 16.23 and a beta of 0.71.

Several equities analysts have issued reports on the company. Desjardins cut Loews to a “hold” rating and set a $76.00 target price on the stock. in a research report on Tuesday, January 30th. ValuEngine cut Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.00.

In other news, insider Kenneth I. Siegel sold 4,907 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $49.69, for a total transaction of $243,828.83. Following the sale, the insider now owns 5,625 shares of the company’s stock, valued at approximately $279,506.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann E. Berman sold 1,383 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $50.30, for a total value of $69,564.90. The disclosure for this sale can be found here. Insiders have sold a total of 20,560 shares of company stock worth $1,029,699 in the last quarter. 11.80% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Calton & Associates Inc. purchased a new stake in Loews in the 4th quarter valued at approximately $137,000. Tower Research Capital LLC TRC lifted its stake in Loews by 387.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,826 shares of the insurance provider’s stock valued at $142,000 after buying an additional 2,246 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Loews in the 4th quarter valued at approximately $167,000. Saratoga Research & Investment Management purchased a new stake in Loews in the 3rd quarter valued at approximately $176,000. Finally, Advisor Group Inc. lifted its stake in Loews by 31.8% in the 2nd quarter. Advisor Group Inc. now owns 3,923 shares of the insurance provider’s stock valued at $183,000 after buying an additional 947 shares in the last quarter. 59.43% of the stock is currently owned by institutional investors and hedge funds.

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Loews 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.

Earnings History for Loews (NYSE:L)

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