L Loews Corporation
Loews Corp. operates as a holding company, which engages in the oil and gas business. It operates through the following segments: CNA Financial, Diamond Offshore, Boardwalk Pipeline, Loews Hotels and Corporate. The CNA Financial segment offers property, casualty, insurance, and underwriting services. The Diamond Offshore segment manages drilling rigs. The Boardwalk Pipeline segment transports and stores natural gas and natural gas liquids. The Loews Hotels segment operates restaurants and chain of hotels. The Corporate segment includes investment income and interest expenses. The company was founded by Laurence A. Tisch and Preston Robert Tisch in 1954 and is headquartered in New York, NY.
Company profile
Ticker
L
Exchange
Website
CEO
James S. Tisch
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
132646102
L stock data
()
Investment data
| 44 long holdings End of quarter 31 Mar 20 |
Value |
#Shares |
Prev Q |
Change %, QoQ |
|---|---|---|---|---|
| $7.53B | 242.65M | 242.65M | 0 | |
| $133.81M | 73.12M | 73.12M | 0 | |
| $23.82M | 3M | 3M | 0 | |
| $19.6M | 570K | 475K | +20.0 | |
| $18.42M | 330.5K | 260K | +27.1 | |
| $17.69M | 450K | 330K | +36.4 | |
| $17.28M | 97.5K | 90K | +8.3 | |
| $16.96M | 341.64K | 140.78K | +142.7 | |
| $14.35M | 327.5K | NEW | ||
| $14.16M | 420K | 350K | +20.0 | |
| $12.76M | 142K | 80K | +77.5 | |
| $12.47M | 50K | NEW | ||
| $11.62M | 10K | 9.42K | +6.1 | |
| $11.59M | 403.92K | NEW | ||
| $11.43M | 150K | NEW | ||
| $11.08M | 150K | 80K | +87.5 | |
| $10.87M | 460K | 287.16K | +60.2 | |
| $10.08M | 100.84K | NEW | ||
| $9.06M | 194.99K | NEW | ||
| $8.32M | 200K | 270K | -25.9 | |
| $8.26M | 109.38K | 52.4K | +108.8 | |
| $7.53M | 95K | 85K | +11.8 | |
| $7.45M | 535K | 500K | +7.0 | |
| $5.76M | 36.5K | 96.41K | -62.1 | |
| $5.71M | 1.14M | 1.14M | 0 | |
| $5.54M | 270K | 350K | -22.9 | |
| $5.17M | 249K | 222.18K | +12.1 | |
| $4.76M | 160.9K | NEW | ||
| $4.2M | 575K | 695K | -17.3 | |
| $3.79M | 468K | 475K | -1.5 | |
| $3.68M | 350K | 150K | +133.3 | |
| $3.56M | 60K | 50K | +20.0 | |
| $3.45M | 461.78K | 303.78K | +52.0 | |
| $3.35M | 400K | 400K | 0 | |
| $2.57M | 3.23M | 3.23M | 0 | |
| $2.1M | 693.53K | 195.03K | +255.6 | |
| $1.81M | 200K | 480K | -58.3 | |
| $1.63M | 300K | NEW | ||
| $1.49M | 3.2M | 3.2M | 0 | |
| $855K | 17.76K | 17.76K | 0 | |
| $92K | 19.12K | 17.64K | +8.4 | |
| $83K | 12.16K | 9.77K | +24.5 | |
| $65K | 130.89K | 130.89K | 0 | |
| $23K | 11.36K | 11.36K | 0 | |
| 90.34K | EXIT | |||
| 333.94K | EXIT | |||
| 260K | EXIT | |||
| 60K | EXIT | |||
| 100K | EXIT | |||
| 228.35K | EXIT | |||
| 244.47K | EXIT | |||
| 430K | EXIT | |||
| 33.6K | EXIT | |||
| 6K | EXIT | |||
| 83.46K | EXIT | |||
| 404.14K | EXIT | |||
| 158.4K | EXIT | |||
| 15.13K | EXIT | |||
| 4.29K | EXIT | |||
| 33.51K | EXIT | |||
| 7.4K | EXIT | |||
| 10.34K | EXIT | |||
|
Blackstone Group Inc
|
7.18K | EXIT | ||
| 5.5K | EXIT | |||
| 3.28K | EXIT | |||
| 6.66K | EXIT | |||
| 5.34K | EXIT | |||
| 5.43K | EXIT | |||
| 1.15K | EXIT | |||
| 7.11K | EXIT | |||
| 12.8K | EXIT | |||
| 5.58K | EXIT | |||
| 8.19K | EXIT | |||
| 877 | EXIT | |||
| 1.73K | EXIT | |||
| 8.98K | EXIT | |||
| 9.8K | EXIT | |||
| 5.27K | EXIT | |||
| 2.16K | EXIT | |||
| 3.96K | EXIT | |||
| 4.06K | EXIT | |||
| 1.15K | EXIT | |||
| 8.79K | EXIT | |||
| 1.28K | EXIT | |||
| 900 | EXIT | |||
| 2.56K | EXIT | |||
| 3.9K | EXIT | |||
| 17.79K | EXIT | |||
| 28.26K | EXIT | |||
| 13.38K | EXIT |
Holdings list only includes long positions.
Only includes long positions.
Calendar
3 Aug 20
6 Aug 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|
| Revenue | 2.31B | 3.1B | 3.88B | 3.68B | |
| Net income | -846M | -1.04B | 211M | 39M | |
| Diluted EPS | -2.96 | -2.2 | 0.73 | 0.24 | |
| Net profit margin | -36.62% | -33.69% | 5.44% | 1.06% | |
| Net change in cash | -271M | 603M | -106M | 2M | |
| Cash on hand | 668M | 939M | 336M | 442M | |
| Cost of revenue | 281M | 278M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 14.93B | 14.07B | 13.74B | 13.11B | |
| Net income | 871M | 706M | 1.41B | 716M | |
| Diluted EPS | 3.07 | 1.99 | 3.45 | 1.93 | |
| Net profit margin | 5.83% | 5.02% | 10.28% | 5.46% | |
| Operating income* | 1.41B | ||||
| Net change in cash | -69M | -67M | 145M | -113M | |
| Cash on hand | 336M | 405M | 472M | 327M | |
| Cost of revenue | 1.08B | 923M | 299M | 271M |
Financial data from Loews earnings reports. *Asterisk values are approximate.
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 19 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 32.41 | 25,784 | 835.66K | 243,214,203 |
| 18 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 32.94 | 73,583 | 2.42M | 243,188,419 |
| 17 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 32.78 | 100,000 | 3.28M | 243,114,836 |
| 16 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 32.37 | 37,567 | 1.22M | 243,014,836 |
| 15 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 31.49 | 23,738 | 747.51K | 242,977,269 |
| 11 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 31.77 | 105,187 | 3.34M | 242,953,531 |
| 10 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 33.51 | 105,187 | 3.52M | 242,848,344 |
| 9 Jun 20 | Loews | Common Stock | Buy | Aquire P | No | 34.24 | 93,384 | 3.2M | 242,743,157 |
| 1 Jun 20 | Joseph L Bower | Common Stock | Sell | Dispose S | No | 33.37 | 6 | 200.22 | 11,511.6 |
| 1 Jun 20 | Joseph L Bower | Common Stock | Sale back to company | Dispose D | No | 33.37 | 1,488 | 49.65K | 11,517.6 |
Institutional ownership Q1 2020
60.2% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 413 |
| Opened positions | 36 |
| Closed positions | 95 |
| Increased positions | 112 |
| Reduced positions | 183 |
13F shares |
Current |
|---|---|
| Total value | 63.41B |
| Total shares | 169.46M |
| Total puts | 165.7K |
| Total calls | 28.5K |
| Total put/call ratio | 5.8 |
Largest owners |
Shares | Value |
|---|---|---|
| Vanguard | 28.85M | $1B |
| JPM JPMorgan Chase & Co. | 19.21M | $669.2M |
| BLK BlackRock | 17.55M | $611.33M |
| N Price T Rowe Associates | 13.26M | $461.71M |
| STT State Street | 12.3M | $428.26M |
| WFC Wells Fargo & Company | 5M | $173.98M |
| Geode Capital Management | 4.17M | $144.87M |
| Boston Partners | 4.01M | $139.49M |
| NTRS Northern Trust | 3.6M | $125.23M |
| IVZ Invesco | 3.4M | $118.34M |
Financial report summary
?Risks
- The coronavirus disease (“COVID-19”) pandemic and measures to mitigate the spread of the virus have resulted in significant risk across CNA’s enterprise, which have had, and may continue to have, material adverse impacts on its business, results of operations and financial condition, the extent of which cannot be determined with any certainty at this time.
- The outbreak of COVID-19 and the measures to mitigate the spread of COVID-19 could materially adversely affect Boardwalk Pipelines’ business, financial condition and results of operations.
- Boardwalk Pipelines is exposed to credit risk relating to default or bankruptcy by its customers.
- Changes in energy prices, including natural gas, oil and natural gas liquids and hydrocarbons (“NGLs”), impact the supply of and demand for those commodities, which could impact Boardwalk Pipelines’ business.
- The COVID-19 pandemic and efforts to mitigate the spread of the virus have had, and are expected to continue to have, a material adverse impact on Loews Hotels & Co’s results of operations, financial condition and cash flows.
- The COVID-19 pandemic may have an adverse impact on Altium Packaging.
- The COVID-19 pandemic is having widespread impacts on the way we and our subsidiaries operate.
Management Discussion
- Net income attributable to Loews Corporation was $135 million for the three months ended June 30, 2020 as compared with $249 million in the 2019 period. The decrease was primarily due to net catastrophe losses of $301 million for the three months ended June 30, 2020 as compared to $38 million in the 2019 period and unfavorable net prior year loss reserve development. Net catastrophe losses in 2020 include $182 million related to COVID-19, $61 million related to civil unrest and $58 million related primarily to severe weather-related events. These results were partially offset by favorable net investment income driven by limited partnership and common stock returns, favorable non-catastrophe current accident year underwriting results and higher investment gains. Investment gains were driven by the favorable change in fair value of non-redeemable preferred stock and higher gains on sales of fixed maturity securities. The prior year period included a $15 million charge (after tax and noncontrolling interests) related to the early retirement of debt.
Content analysis
?
| Positive | ||
| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
H.S. junior Bad
|
|
New words:
abatement, arrangement, attendance, audit, bargaining, begun, civil, coastal, counsel, denial, drove, guest, harm, high, identification, immaterial, insufficient, issuance, larger, light, loyalty, magnitude, middle, narrowly, necessitate, owner, PAL, payroll, pervasive, prevent, prudent, repeatedly, reputation, resurgence, resuspension, reviver, shelter, shutter, slowdown, stability, staffing, subside, substance, suffer, tail, thereto, unabated, unrest, wave, York
Removed:
aforementioned, agreed, applied, backlog, crude, demobilization, earning, floater, function, guarantee, Hardy, leading, mobilization, modification, multiplying, office, Onyx, preparation, reactivation, refer, renegotiate, represented, scheduled, shipyard, stacked, stated, terminate, unscheduled, weather
Financial reports
10-Q
2020 Q2
Quarterly report
3 Aug 20
10-Q
2020 Q1
Quarterly report
4 May 20
10-K
2019 FY
Annual report
12 Feb 20
10-Q
2019 Q3
Quarterly report
28 Oct 19
10-Q
2019 Q2
Quarterly report
5 Aug 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
10-K
2018 FY
Annual report
13 Feb 19
10-Q
2018 Q3
Quarterly report
5 Nov 18
10-Q
2018 Q2
Quarterly report
30 Jul 18
10-Q
2018 Q1
Quarterly report
30 Apr 18
Current reports
8-K
Results of Operations and Financial Condition
3 Aug 20
8-K
Submission of Matters to a Vote of Security Holders
13 May 20
8-K
Other Events
8 May 20
8-K
Results of Operations and Financial Condition
4 May 20
8-K
Completion of Acquisition or Disposition of Assets
27 Apr 20
8-K
Results of Operations and Financial Condition
10 Feb 20
8-K
Results of Operations and Financial Condition
28 Oct 19
8-K
Results of Operations and Financial Condition
5 Aug 19
8-K
Submission of Matters to a Vote of Security Holders
15 May 19
8-K
Results of Operations and Financial Condition
29 Apr 19
Registration and prospectus
424B5
Prospectus supplement for primary offering
7 May 20
FWP
Free writing prospectus
6 May 20
424B5
Prospectus supplement for primary offering
6 May 20
S-3ASR
Automatic shelf registration
23 Feb 18
S-8
Registration of securities for employees
11 May 16
424B5
Prospectus supplement for primary offering
21 Mar 16
424B3
Prospectus supplement
17 Mar 16
FWP
Free writing prospectus
17 Mar 16
S-3ASR
Automatic shelf registration
24 Feb 15
424B5
Prospectus supplement for primary offering
3 May 13
Proxies
DEFA14A
Additional proxy soliciting materials
1 Apr 20
DEF 14A
Definitive proxy
1 Apr 20
DEFA14A
Additional proxy soliciting materials
3 Apr 19
DEF 14A
Definitive proxy
3 Apr 19
DEF 14A
Definitive proxy
28 Mar 18
DEFA14A
Additional proxy soliciting materials
28 Mar 18
DEF 14A
Definitive proxy
29 Mar 17
DEFA14A
Additional proxy soliciting materials
29 Mar 17
DEF 14A
Definitive proxy
30 Mar 16
DEFA14A
Additional proxy soliciting materials
30 Mar 16
Other
UPLOAD
Letter from SEC
21 Aug 13
CORRESP
Correspondence with SEC
14 Aug 13
UPLOAD
Letter from SEC
1 Aug 13
CORRESP
Correspondence with SEC
24 Jul 13
UPLOAD
Letter from SEC
12 Jul 13
CORRESP
Correspondence with SEC
26 Jun 13
UPLOAD
Letter from SEC
12 Jun 13
UPLOAD
Letter from SEC
20 Jun 12
CORRESP
Correspondence with SEC
18 Jun 12
UPLOAD
Letter from SEC
7 Jun 12
Ownership
4
Change in insider ownership
19 Jun 20
4
Change in insider ownership
17 Jun 20
4
Change in insider ownership
11 Jun 20
4
LOEWS / PHILIP A LASKAWY ownership change
2 Jun 20
4
LOEWS / WALTER L HARRIS ownership change
2 Jun 20
4
LOEWS / PAUL J FRIBOURG ownership change
2 Jun 20
4
LOEWS / CHARLES M DIKER ownership change
2 Jun 20
4
LOEWS / JOSEPH L BOWER ownership change
2 Jun 20
4
LOEWS / PHILIP A LASKAWY ownership change
1 Jun 20
4
LOEWS / ANTHONY WELTERS ownership change
14 May 20