Loews Co. (NYSE:L) declared a quarterly dividend on Tuesday, February 12th, RTT News reports. Investors of record on Wednesday, February 27th will be paid a dividend of 0.0625 per share by the insurance provider on Tuesday, March 12th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Tuesday, February 26th.
Loews has a payout ratio of 7.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Loews to earn $3.50 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 7.1%.
Shares of L stock opened at $47.44 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.53. Loews has a twelve month low of $42.06 and a twelve month high of $53.04. The company has a market capitalization of $14.65 billion, a P/E ratio of 16.70 and a beta of 0.64.
Loews (NYSE:L) last issued its quarterly earnings data on Monday, February 11th. The insurance provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($1.06). Loews had a net margin of 4.52% and a return on equity of 4.16%. The company had revenue of $3.29 billion during the quarter. During the same quarter last year, the firm earned $0.81 earnings per share. On average, research analysts forecast that Loews will post 3.55 EPS for the current year.
A number of research analysts recently weighed in on L shares. Raymond James reissued a “buy” rating and issued a $66.00 price objective on shares of Loews in a research note on Wednesday, November 14th. CIBC reaffirmed an “average” rating and issued a $70.00 price target on shares of Loews in a research note on Thursday, November 15th. Finally, Zacks Investment Research raised Loews from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.94.
In other news, insider Jonathan M. Tisch sold 5,943 shares of the stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $44.54, for a total transaction of $264,701.22. Following the transaction, the insider now owns 12,706 shares in the company, valued at $565,925.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles M. Diker sold 664 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.48, for a total value of $32,190.72. The disclosure for this sale can be found here. Insiders have sold 52,181 shares of company stock valued at $2,371,101 over the last three months. Insiders own 12.30% of the company’s stock.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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