Loews (NYSE:L) Hits New 1-Year High – What’s Next?

Loews Corporation (NYSE:L) shares hit a new 52-week high on Monday . The stock traded as high as $114.90 and last traded at $112.3350, with a volume of 64003 shares. The stock had previously closed at $110.89.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews presently has an average rating of “Strong Buy”.

Loews Trading Up 0.8%

The firm has a fifty day moving average of $104.99 and a two-hundred day moving average of $100.94. The company has a market cap of $23.19 billion, a PE ratio of 16.32 and a beta of 0.61. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a net margin of 7.95% and a return on equity of 7.89%. The firm had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is presently 3.62%.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Monday, December 15th. The stock was sold at an average price of $105.07, for a total value of $5,253,500.00. Following the completion of the transaction, the director directly owned 12,909,642 shares in the company, valued at approximately $1,356,416,084.94. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the sale, the director directly owned 400 shares in the company, valued at $43,252. This trade represents a 78.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 125,770 shares of company stock valued at $13,325,818. 18.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Loews during the 2nd quarter valued at about $665,658,000. Danske Bank A S bought a new position in shares of Loews during the third quarter valued at about $35,724,000. Arbejdsmarkedets Tillaegspension bought a new stake in shares of Loews in the 4th quarter valued at about $23,883,000. Dark Forest Capital Management LP lifted its stake in shares of Loews by 582.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 221,212 shares of the insurance provider’s stock valued at $22,207,000 after acquiring an additional 188,812 shares during the last quarter. Finally, Amundi boosted its holdings in Loews by 41.6% during the 3rd quarter. Amundi now owns 610,657 shares of the insurance provider’s stock valued at $62,513,000 after acquiring an additional 179,383 shares during the period. Institutional investors own 58.33% of the company’s stock.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.