Loews (NYSE:L) Hits New 12-Month High at $78.35

Loews Co. (NYSE:L)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $78.35 and last traded at $78.26, with a volume of 36135 shares. The stock had previously closed at $78.10.

Loews Stock Performance

The stock has a market cap of $17.40 billion, a P/E ratio of 12.40 and a beta of 0.82. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $74.38 and a 200 day simple moving average of $69.41.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter. The firm had revenue of $4.26 billion for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Tuesday, February 20th. Loews’s payout ratio is presently 3.97%.

Insider Activity

In other news, insider Jonathan M. Tisch sold 4,287 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $71.91, for a total value of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares of the company’s stock, valued at $7,685,021.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrew H. Tisch sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the transaction, the director now owns 945,886 shares in the company, valued at approximately $69,087,513.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the transaction, the insider now owns 106,870 shares in the company, valued at approximately $7,685,021.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,563 shares of company stock worth $10,052,551. Insiders own 18.30% of the company’s stock.

Institutional Investors Weigh In On Loews

A number of large investors have recently bought and sold shares of L. State Street Corp boosted its holdings in Loews by 1.1% during the 2nd quarter. State Street Corp now owns 8,427,667 shares of the insurance provider’s stock worth $500,435,000 after acquiring an additional 88,821 shares during the last quarter. Norges Bank purchased a new position in shares of Loews in the fourth quarter worth about $511,159,000. Geode Capital Management LLC raised its position in shares of Loews by 1.3% in the first quarter. Geode Capital Management LLC now owns 4,064,740 shares of the insurance provider’s stock valued at $235,292,000 after purchasing an additional 51,482 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Loews by 0.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,255,282 shares of the insurance provider’s stock valued at $206,092,000 after buying an additional 20,277 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Loews by 11.9% in the 4th quarter. Northern Trust Corp now owns 2,503,105 shares of the insurance provider’s stock worth $174,191,000 after buying an additional 266,729 shares during the period. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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.