Loews Corporation (NYSE:L) to Issue $0.06 Quarterly Dividend

Loews Corporation (NYSE:L) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Wednesday, May 27th will be given a dividend of 0.0625 per share by the insurance provider on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, May 27th.

Loews Stock Down 0.5%

Shares of Loews stock traded down $0.51 during midday trading on Wednesday, reaching $103.88. 198,697 shares of the company’s stock traded hands, compared to its average volume of 711,275. The company has a market cap of $21.38 billion, a price-to-earnings ratio of 13.20 and a beta of 0.56. Loews has a 52 week low of $86.77 and a 52 week high of $114.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The company’s 50 day simple moving average is $108.55 and its 200 day simple moving average is $106.37.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.56 billion during the quarter.

Insider Activity

In other news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the transaction, the director owned 12,480,400 shares in the company, valued at approximately $1,357,992,324. The trade was a 0.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 19.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CPC Advisors LLC bought a new position in shares of Loews during the 3rd quarter worth about $6,568,000. Cibc World Market Inc. increased its holdings in shares of Loews by 448.6% during the 3rd quarter. Cibc World Market Inc. now owns 24,540 shares of the insurance provider’s stock worth $2,464,000 after purchasing an additional 20,067 shares during the period. Caprock Group LLC bought a new position in shares of Loews during the 3rd quarter worth about $2,748,000. Truist Financial Corp increased its holdings in shares of Loews by 388.3% during the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock worth $1,439,000 after purchasing an additional 11,396 shares during the period. Finally, National Pension Service increased its holdings in shares of Loews by 30.5% during the 3rd quarter. National Pension Service now owns 46,960 shares of the insurance provider’s stock worth $4,714,000 after purchasing an additional 10,986 shares during the period. Institutional investors own 58.33% of the company’s stock.

About Loews

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.