Loews Gains as Insurance Unit CNA Restores Dividend
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Loews Corp., the company run by New York’s Tisch family, gained the most since May after fourth-quarter earnings beat analysts’ estimates and the insurance unit declared its first dividend since 2008.
Loews advanced $1.87, or 4.5 percent, to $43.27 at 4:00 p.m. in New York Stock Exchange composite trading. Operating income in the fourth quarter was $1.17 a share, compared with the 88 cent estimate of 2 analysts surveyed by Bloomberg. CNA Financial Corp., the insurer controlled by Loews, will pay a dividend of 10 cents a share on March 2, the company said in a statement today.