Loews (NYSE:L) Reaches New 52-Week High at $85.00

Loews Co. (NYSE:L)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $85.00 and last traded at $85.00, with a volume of 5015 shares traded. The stock had previously closed at $80.09.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada raised Loews to a “moderate buy” rating in a research note on Friday.

Loews Price Performance

The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $17.82 billion, a PE ratio of 11.88 and a beta of 0.84. The stock’s 50-day moving average is $75.92 and its two-hundred day moving average is $75.35.

Loews (NYSE:L) last issued its earnings results on Monday, May 6th. The insurance provider reported $2.05 EPS for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%. The business had revenue of $4.23 billion for the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, May 29th. Loews’s payout ratio is 3.71%.

Insider Buying and Selling

In related news, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the sale, the insider now owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 150,000 shares of company stock valued at $11,588,500 over the last 90 days. Corporate insiders own 18.70% of the company’s stock.

Institutional Trading of Loews

Several hedge funds have recently modified their holdings of L. Charles Schwab Investment Management Inc. grew its stake in Loews by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,587,817 shares of the insurance provider’s stock worth $110,496,000 after buying an additional 21,323 shares during the last quarter. Principal Financial Group Inc. grew its position in Loews by 12.8% during the 4th quarter. Principal Financial Group Inc. now owns 242,163 shares of the insurance provider’s stock worth $16,852,000 after purchasing an additional 27,498 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of Loews by 70.5% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,753 shares of the insurance provider’s stock valued at $1,027,000 after buying an additional 6,101 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Loews by 3.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 297,181 shares of the insurance provider’s stock valued at $20,681,000 after purchasing an additional 10,473 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in Loews by 5.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock valued at $13,690,000 after buying an additional 8,527 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.