Loews (NYSE:L – Get Free Report) released its quarterly earnings results on Monday. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $4.76 billion for the quarter. Loews had a net margin of 7.93% and a return on equity of 7.54%.
Loews Stock Performance
Shares of NYSE:L traded up $1.03 during trading on Wednesday, reaching $111.00. The company had a trading volume of 66,922 shares, compared to its average volume of 784,746. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s fifty day moving average price is $108.61 and its 200 day moving average price is $109.40. Loews has a fifty-two week low of $100.59 and a fifty-two week high of $121.01. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 15.37 and a beta of 0.49.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has an average rating of “Buy”.
Hedge Funds Weigh In On Loews
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Loews during the 2nd quarter valued at $26,000. Fiduciary Financial Advisors purchased a new position in Loews during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in Loews during the 2nd quarter worth approximately $28,000. Reyes Financial Architecture Inc. bought a new stake in Loews during the 3rd quarter valued at $32,000. Finally, Elevation Wealth Partners LLC boosted its holdings in shares of Loews by 245.9% in the third quarter. Elevation Wealth Partners LLC now owns 422 shares of the insurance provider’s stock worth $44,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.
About Loews
Loews Corporation (NYSE:L) is a diversified holding company with operating businesses in insurance, energy infrastructure, hospitality and packaging. The company manages its portfolio through a combination of wholly owned subsidiaries and a significant ownership interest in CNA Financial Corporation, a commercial property and casualty insurance provider.
Loews’ wholly owned businesses include Boardwalk Pipelines, which owns and operates natural gas and natural gas liquids pipeline and storage assets; Loews Hotels & Co, which operates upscale hotels and resorts under brands including Loews Hotels and Universal’s hotels; and Altium Packaging, a manufacturer of rigid plastic containers and packaging products.
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