Loews Corporation (NYSE:L) declared a quarterly dividend on Tuesday, February 13th, RTT News reports. Stockholders of record on Wednesday, February 28th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, March 13th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%.
Loews has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Loews to earn $3.35 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 7.5%.
Loews (L) traded up $0.46 during midday trading on Tuesday, reaching $47.96. The company’s stock had a trading volume of 374,700 shares, compared to its average volume of 1,419,954. The stock has a market cap of $15,730.78, a PE ratio of 17.05 and a beta of 0.71. Loews has a 52-week low of $45.01 and a 52-week high of $53.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35.
In related news, insider Kenneth I. Siegel sold 1,940 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $49.86, for a total transaction of $96,728.40. Following the completion of the transaction, the insider now owns 11,250 shares of the company’s stock, valued at $560,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann E. Berman sold 1,383 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were 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. In the last three months, insiders sold 20,560 shares of company stock valued at $1,029,699. Company insiders own 11.80% of the company’s stock.
Several equities analysts have recently commented on L shares. Zacks Investment Research raised Loews from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, January 5th. Desjardins lowered Loews to a “hold” rating and set a $76.00 price target on the stock. in a research report on Tuesday, January 30th. Finally, ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Loews has an average rating of “Hold” and a consensus target price of $56.00.
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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