LOEWS CORPORATION ANNOUNCES QUARTERLY DIVIDEND ON COMMON STOCK
NEW YORK , Aug. 6, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable September 3, 2024 to shareholders of record as of the close of business on August 21, 2024. Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries.
Loews profit rises on strong premiums and investment income; names new CEO
Loews said on Monday that James Tisch will hand over the CEO role to his son after 25 years at the helm. The company also reported a 2.5% jump in its quarterly profit, helped by a rise in insurance premiums and higher returns on its investments.
Loews Corporation Announces CEO Transition:
James Tisch to retire as President & CEO as of December 31, 2024; Loews Board elects Benjamin Tisch as President & CEO; James Tisch will become Chairman of the Board of Directors NEW YORK , July 29, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today that, as part of its leadership succession plan, on December 31, 2024, James Tisch will retire as President and CEO and will be succeeded by Benjamin Tisch, current Senior Vice President, Corporate Development and Strategy. As part of the leadership transition, James Tisch will become Chairman of the Board of Directors, and Benjamin Tisch and Loews Hotels & Co's CEO Alexander Tisch will join the Board.
Loews Corporation to Release Second Quarter 2024 Results on July 29, 2024
NEW YORK, July 9, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) will report second quarter 2024 financial results on Monday, July 29, 2024. On that date the Company will also post earnings remarks on its website.
Loews Co. (NYSE:L) Shares Sold by Beacon Pointe Advisors LLC
Beacon Pointe Advisors LLC cut its holdings in shares of Loews Co. (NYSE:L – Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,145 shares of the insurance provider’s stock after selling 337 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Loews were worth $1,889,000 at the end of the most recent reporting period. Several other large investors also recently bought and sold shares of L. Northern Trust Corp raised its stake in Loews by 6.3% during the third quarter. Northern Trust Corp now owns 2,236,376 shares of the insurance provider’s stock worth $141,585,000 after purchasing an additional 131,736 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Loews by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after acquiring an additional 21,323 shares during the last quarter. Royal Bank of Canada raised its position in Loews by 2.6% in the third quarter. Royal Bank of Canada now owns 935,189 shares of the insurance provider’s stock valued at $59,207,000 after purchasing an additional 23,756 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Loews by 316.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock worth $36,727,000 after purchasing an additional 440,693 shares during the period. Finally, Barclays PLC lifted its position in Loews by 34.9% in the third quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock valued at $36,568,000 after buying an additional 149,500 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock. Loews Stock Up 0.7 % Shares of NYSE L opened at $77.74 on Monday. Loews Co. has a 1 year low of $55.94 and a 1 year high of $78.55. The company has a market capitalization of $17.21 billion, a price-to-earnings ratio of 11.53 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The business has a 50-day moving average of $76.41 and a two-hundred day moving average of $72.76. Loews (NYSE:L – Get Free Report) last posted its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The firm had revenue of $4.23 billion for the quarter. Loews Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Wednesday, May 29th. Loews’s dividend payout ratio is currently 3.71%. Insiders Place Their Bets In other Loews news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $77.39, for a total value of $3,869,500.00. Following the sale, the insider now owns 607,799 shares of the company’s stock, valued at approximately $47,037,564.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Fribourg sold 951 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $75.02, for a total value of $71,344.02. Following the transaction, the director now owns 21,200 shares in the company, valued at approximately $1,590,424. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,951 shares of company stock valued at $11,659,844. Insiders own 18.70% of the company’s stock. About Loews (Free Report) Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages. See Also Five stocks we like better than Loews What is a Low P/E Ratio and What Does it Tell Investors? Canada Goose Flies Higher Driven By DTC Growth Stock Splits, Do They Really Impact Investors? CVS Health Stock Has a Silver Lining Called Value Profitably Trade Stocks at 52-Week Highs Magnificent 7 Still Magnificent as the Halfway Mark Approaches?
