Loews Co. (NYSE:L) – Research analysts at Langen Mcalenn reduced their Q3 2019 earnings estimates for Loews in a research note issued to investors on Tuesday, November 6th. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will earn $0.97 per share for the quarter, down from their previous forecast of $1.21.
Loews (NYSE:L) last issued its earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.10). Loews had a return on equity of 4.75% and a net margin of 8.94%. The firm had revenue of $3.61 billion during the quarter. During the same period last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis.
Shares of L stock opened at $49.59 on Friday. Loews has a twelve month low of $44.78 and a twelve month high of $53.59. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 14.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.35.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in Loews by 110.4% during the 1st quarter. LPL Financial LLC now owns 12,567 shares of the insurance provider’s stock valued at $625,000 after buying an additional 6,594 shares in the last quarter. DnB Asset Management AS increased its position in Loews by 7.6% during the 2nd quarter. DnB Asset Management AS now owns 45,293 shares of the insurance provider’s stock valued at $2,187,000 after buying an additional 3,200 shares in the last quarter. IFM Investors Pty Ltd increased its position in Loews by 44.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 12,703 shares of the insurance provider’s stock valued at $613,000 after buying an additional 3,920 shares in the last quarter. Hexavest Inc. acquired a new position in Loews during the 2nd quarter valued at about $10,573,000. Finally, State of Alaska Department of Revenue increased its position in Loews by 15.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 63,423 shares of the insurance provider’s stock valued at $3,061,000 after buying an additional 8,560 shares in the last quarter. 62.57% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ann E. Berman sold 2,216 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total value of $109,182.32. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $73,905. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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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