Loews (NYSE:L) Reaches New 1-Year High – Still a Buy?

Loews Co. (NYSE:L)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $86.79 and last traded at $86.49, with a volume of 79546 shares changing hands. The stock had previously closed at $86.07.

Analyst Ratings Changes

Several research firms have recently weighed in on L. StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Jefferies Financial Group decreased their price target on Loews from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st.

Loews Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 11.50 and a beta of 0.82. The stock’s fifty day moving average price is $80.44 and its 200-day moving average price is $78.41.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s payout ratio is currently 3.32%.

Insider Transactions at Loews

In other Loews news, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 213,587 shares of company stock valued at $17,586,460 over the last quarter. Company insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Loews

Large investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares during the period. Brooklyn Investment Group acquired a new stake in Loews in the 3rd quarter worth $40,000. Kimelman & Baird LLC acquired a new position in shares of Loews during the second quarter valued at about $45,000. Family Firm Inc. bought a new stake in shares of Loews in the second quarter valued at about $46,000. Finally, Eastern Bank acquired a new stake in Loews during the third quarter worth about $47,000. Institutional investors own 58.33% of the company’s stock.

About Loews

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.