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

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

Loews Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 12.40 and a beta of 0.82. The business has a fifty day simple moving average of $74.38 and a 200 day simple moving average of $69.41.

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

Loews Dividend Announcement

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

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 125,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the sale, the director now owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Paul J. Fribourg sold 951 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares in the company, valued at approximately $1,590,424. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 945,886 shares in the company, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock valued at $10,052,551 over the last 90 days. 18.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Loews

Hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Loews during the fourth quarter valued at about $26,000. Northwest Financial Advisors bought a new position in Loews during the 4th quarter worth $28,000. NBC Securities Inc. acquired a new position in shares of Loews in the third quarter worth approximately $29,000. West Tower Group LLC bought a new stake in shares of Loews in the 4th quarter valued at $29,000. Finally, Operose Advisors LLC acquired a new stake in Loews during the 3rd quarter worth about $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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.