Loews (NYSE:L) Sets New 12-Month High After Dividend Announcement

Loews Co. (NYSE:L) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $88.29 and last traded at $85.89, with a volume of 1111551 shares trading hands. The stock had previously closed at $86.77.

The newly announced dividend which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a $0.0625 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio is presently 3.32%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Loews from a “buy” rating to a “hold” rating in a research note on Tuesday.

Loews Price Performance

The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 11.02 and a beta of 0.83. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The company’s 50 day simple moving average is $84.65 and its 200-day simple moving average is $81.93.

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 9.71% and a return on equity of 9.70%.

Insider Transactions at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the completion of the transaction, the director now owns 19,906 shares in the company, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,370 shares of company stock worth $5,218,627 in the last three months. 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 business. Halbert Hargrove Global Advisors LLC purchased a new position in Loews in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Loews in the third quarter valued at $40,000. Eastern Bank acquired a new stake in Loews during the 3rd quarter valued at $47,000. Human Investing LLC purchased a new stake in Loews during the 4th quarter worth $51,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Loews in the 3rd quarter worth $49,000. Institutional investors and hedge funds own 58.33% of the company’s stock.

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.