Loews (NYSE:L) Hits New 1-Year High After Dividend Announcement

Loews Co. (NYSE:L)’s stock price reached a new 52-week high during 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. 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 dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is 3.32%.

Wall Street Analysts Forecast Growth

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

Loews Price Performance

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 business has a 50-day moving average price of $84.65 and a two-hundred day moving average price of $81.93. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 11.02 and a beta of 0.83.

Loews (NYSE:L) last posted its earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the sale, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. 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. 18.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Loews

Several large investors have recently modified their holdings of L. Resona Asset Management Co. Ltd. acquired a new stake in shares of Loews in the fourth quarter worth $7,379,000. ExodusPoint Capital Management LP purchased a new stake in shares of Loews during the fourth quarter worth $4,264,000. Bryce Point Capital LLC purchased a new stake in shares of Loews during the fourth quarter worth $1,486,000. Meeder Advisory Services Inc. raised its holdings in Loews by 39.9% during the fourth quarter. Meeder Advisory Services Inc. now owns 6,501 shares of the insurance provider’s stock valued at $551,000 after buying an additional 1,853 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock valued at $378,087,000 after buying an additional 210,594 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

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.