Loews: At $87 It's Undervalued Given Management's Persistent History Of Success
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.
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?
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Insurance - Property & Casualty Industry | Financial Services Sector | Benjamin J. Tisch CEO | XHAN Exchange | US5404241086 ISIN |
US Country | 13,000 Employees | - Last Dividend | 9 May 2006 Last Split | 10 Jul 1987 IPO Date |
Loews Corporation, incorporated in 1969 and headquartered in New York, New York, operates as a diversely-focused conglomerate primarily providing commercial property and casualty insurance on both a domestic (United States) and international scale. Beyond insurance, the company has substantial interests in the transportation and storage of natural gas and its derivatives, hotel operations, and the production of plastic containers and resins. Through its broad range of operations, Loews Corporation caters to a variety of sectors, including insurance, energy, hospitality, and manufacturing, capitalizing on its expansive network and expertise across these industries.
Loews Corporation's insurance segment delivers an array of specialty insurance products, covering management and professional liability, surety and fidelity bonds, property insurance, casualty insurance, and various other coverage products. Targeting different customer needs, these products are marketed through independent agents, brokers, and managing general underwriters. Additionally, the company offers loss-sensitive insurance programs along with warranty, risk management, information, and claims administration services.
The company's engagement in the energy sector includes the transportation and storage of natural gas and natural gas liquids. This operation encompasses approximately 13,455 miles of interconnected natural gas pipelines, 855 miles of NGL pipelines in Louisiana and Texas, along with 14 underground storage fields. These facilities collectively boast an aggregated gas capacity of around 199.5 billion cubic feet, complemented by eleven salt dome caverns equipped for brine supply services.
Loews Corporation also manages a chain of 25 hotels, providing premium lodging services across various locations. This segment of its operations focuses on delivering superior customer experiences within the hospitality industry through its well-positioned properties.
A notable part of its manufacturing sector includes the development, manufacture, and marketing of extrusion blow-molded and injection molded plastic containers. These products find applications across several industries such as pharmaceuticals, dairy, household chemicals, food/nutraceuticals, industrial/specialty chemicals, and beverage industries. Additionally, Loews Corporation undertakes the production of both commodity and differentiated plastic resins from recycled plastic materials, addressing the market's need for sustainable manufacturing practices.