Loews Corporation (NYSE:L) – Equities researchers at Langen Mcalenn issued their Q1 2018 EPS estimates for Loews in a report issued on Monday. Langen Mcalenn analyst R. Glasspiegel expects that the insurance provider will post earnings of $0.84 per share for the quarter. Langen Mcalenn also issued estimates for Loews’ Q2 2018 earnings at $0.82 EPS, Q3 2018 earnings at $1.01 EPS, Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.35 EPS, Q1 2019 earnings at $0.81 EPS, Q2 2019 earnings at $0.90 EPS, Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $0.90 EPS and FY2019 earnings at $3.70 EPS.
Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. Loews had a net margin of 8.47% and a return on equity of 4.10%. The business had revenue of $3.56 billion for the quarter. During the same period in the previous year, the firm earned $0.73 EPS. The company’s revenue was up 6.5% on a year-over-year basis.
Shares of Loews (L) opened at $48.09 on Wednesday. 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. The company has a market cap of $15,989.98, a PE ratio of 13.94 and a beta of 0.71.
Several institutional investors and hedge funds have recently added to or reduced their stakes in L. Wells Fargo & Company MN raised its holdings in shares of Loews by 15.9% during the third quarter. Wells Fargo & Company MN now owns 5,038,288 shares of the insurance provider’s stock valued at $241,132,000 after purchasing an additional 689,401 shares during the last quarter. St. James Investment Company LLC purchased a new position in shares of Loews during the third quarter valued at approximately $29,452,000. Renaissance Technologies LLC raised its holdings in shares of Loews by 73.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,082,400 shares of the insurance provider’s stock valued at $54,152,000 after purchasing an additional 456,600 shares during the last quarter. PGGM Investments raised its holdings in shares of Loews by 188.9% during the third quarter. PGGM Investments now owns 677,650 shares of the insurance provider’s stock valued at $32,432,000 after purchasing an additional 443,056 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of Loews during the fourth quarter valued at approximately $16,398,000. 59.43% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ann E. Berman sold 1,383 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $50.30, for a total transaction of $69,564.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 7,800 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $47.51, for a total transaction of $370,578.00. Following the transaction, the insider now directly owns 2,990,022 shares of the company’s stock, valued at $142,055,945.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,360 shares of company stock worth $1,400,277. Insiders own 11.80% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Wednesday, February 28th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.52%. Loews’s dividend payout ratio is presently 7.25%.
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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.
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