Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
Marc A. Alpert, the Senior Vice President, General Counsel, and Secretary of Loews Corp (NYSE:L), has recently sold 4,500 shares of the company’s common stock. Loews Corp, with a market capitalization of $18.1 billion, has demonstrated strong financial performance, earning a "GOOD" overall health score according to InvestingPro analysis. The shares were sold at a weighted average price of $85.04, amounting to a total transaction value of $382,680. The stock, currently trading near its 52-week high of $88.29, has delivered a solid 16.5% return over the past year. InvestingPro analysis reveals the company has maintained dividend payments for 54 consecutive years - one of several valuable insights available to subscribers. Following this sale, Alpert retains ownership of 13,089 shares in the company. The transaction took place on February 11, 2025, as detailed in a recent SEC filing.
In other recent news, Loews Corporation’s Q4 earnings have seen a decrease, largely due to the higher catastrophe losses and investment losses faced by its insurance subsidiary, CNA Financial. The company reported a net income of $187 million, down from $446 million in the same period last year, despite a rise in revenue from $4.26 billion to $4.55 billion. It’s worth noting that these results included a previously announced after-tax pension settlement charge of $265 million at CNA Financial.
CNA Financial’s net income attributable to Loews dropped significantly from $336 million to $19 million, a shift influenced by increased losses. However, there were positive developments as well. Boardwalk Pipelines, another subsidiary of Loews, saw improved results due to increased revenues from re-contracting at higher rates and recently completed growth projects.
The company also repurchased 4.2 million shares of its common stock for $349 million during the quarter, totaling 7.7 million shares for $611 million for the full year of 2024. Loews ended the year with $3.3 billion in cash and investments at the parent company level and $1.8 billion of debt. These are some of the recent developments at Loews Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.