Loews Corporation (NYSE: L) said on Tuesday that its Board of Directors had authorized a quarterly dividend of $0.0625 per share of common stock.
The dividend will be paid on June 11th to shareholders of record as of the close of business on May 29th 2024, the company said.
The dividend was kept unchanged from the previous quarterly dividend payment.
Stock Performance
The shares of Loews Corporation (L) closed flat at $77.34 in New York on Tuesday, following a 0.82% loss recorded in the previous market session.
The company’s total market cap now stands at $17.124 billion.
The shares of Loews Corporation (L) went up 19.30% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 11.14% so far this year.
Analyst stock price forecast and recommendation
According to TipRanks, the 1 surveyed investment analyst offering 12-month price target for Loews Corp’s stock had rated the latter as “Hold”. The median price target on the stock stands at $15.00, which translates into an 80.61% downside compared to the closing price on Tuesday.
The high point of the analyst forecast range stands at $15.00.
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