Dino Robusto Purchases 5,000 Shares of Loews (NYSE:L) Stock

Loews Corporation (NYSE:L) Director Dino Robusto purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, for a total transaction of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Loews Trading Up 1.2%

Shares of Loews stock opened at $105.05 on Wednesday. The firm has a market capitalization of $21.62 billion, a PE ratio of 13.35 and a beta of 0.53. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $107.91 and its 200 day moving average is $106.99. Loews Corporation has a 1 year low of $86.77 and a 1 year high of $114.90.

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

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews’s payout ratio is 3.18%.

Institutional Investors Weigh In On Loews

Institutional investors have recently added to or reduced their stakes in the business. Cibc World Market Inc. grew its holdings in 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 acquiring an additional 20,067 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Loews in the 3rd quarter valued at $2,748,000. Groupama Asset Managment bought a new stake in shares of Loews in the 3rd quarter valued at $1,723,000. National Pension Service boosted its stake in shares of Loews by 30.5% in the 3rd quarter. National Pension Service now owns 46,960 shares of the insurance provider’s stock valued at $4,714,000 after purchasing an additional 10,986 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Loews by 388.3% in the 3rd quarter. Truist Financial Corp now owns 14,331 shares of the insurance provider’s stock valued at $1,439,000 after purchasing an additional 11,396 shares during the last quarter. 58.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

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.