Loews (NYSE:L) Sets New 1-Year High Following Dividend Announcement

Loews Corporation (NYSE:L)’s stock price reached a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as $103.56 and last traded at $103.26, with a volume of 27383 shares. The stock had previously closed at $103.02.

The newly announced dividend which will be paid on Tuesday, December 9th. Shareholders of record on Wednesday, November 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 0.2%. The ex-dividend date is Wednesday, November 26th. Loews’s dividend payout ratio is presently 3.62%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Loews Trading Up 0.8%

The company has a market capitalization of $21.67 billion, a PE ratio of 16.67 and a beta of 0.73. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $99.63 and its two-hundred day moving average price is $93.96.

Loews (NYSE:L) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The business had revenue of $3.94 billion during the quarter.

Institutional Investors Weigh In On Loews

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its position in Loews by 218.1% in the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock worth $13,056,000 after buying an additional 97,391 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Loews by 182.2% during the 2nd quarter. Assetmark Inc. now owns 1,967 shares of the insurance provider’s stock valued at $180,000 after acquiring an additional 1,270 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of Loews in the first quarter worth approximately $284,000. American Century Companies Inc. grew its stake in shares of Loews by 7.4% in the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock worth $8,846,000 after acquiring an additional 6,660 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Loews by 1.3% during the first quarter. Hsbc Holdings PLC now owns 724,190 shares of the insurance provider’s stock valued at $66,463,000 after purchasing an additional 9,357 shares during the period. 58.33% of the stock is currently 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.