Loews (NYSE:L) Sets New 12-Month High – Here’s What Happened

Loews Co. (NYSE:L) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $92.13 and last traded at $91.51, with a volume of 567650 shares. The stock had previously closed at $91.40.

Analysts Set New Price Targets

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Trading Up 1.0 %

The firm’s 50-day simple moving average is $85.78 and its 200-day simple moving average is $83.44. The firm has a market capitalization of $19.49 billion, a P/E ratio of 14.31 and a beta of 0.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50.

Loews (NYSE:L) last announced its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. Loews’s dividend payout ratio is 3.91%.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,860 shares of company stock valued at $13,486,463 over the last quarter. 18.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Loews

Several institutional investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC purchased a new stake in shares of Loews during the fourth quarter worth about $315,000. Nordea Investment Management AB grew its position in shares of Loews by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock worth $1,323,000 after buying an additional 1,085 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Loews during the fourth quarter valued at approximately $425,000. Bank of New York Mellon Corp increased its stake in shares of Loews by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider’s stock valued at $109,067,000 after buying an additional 77,386 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Loews by 3.0% in the third quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider’s stock worth $19,657,000 after acquiring an additional 7,149 shares during the period. Hedge funds and other 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.