Loews (NYSE:L) Reaches New 12-Month High – What’s Next?

Loews Corporation (NYSE:L) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $120.70 and last traded at $120.6110, with a volume of 55460 shares changing hands. The stock had previously closed at $118.54.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Loews has an average rating of “Strong Buy”.

Loews Price Performance

The stock has a market capitalization of $24.52 billion, a PE ratio of 15.14 and a beta of 0.52. The stock’s 50 day moving average is $111.34 and its two-hundred day moving average is $108.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. The company had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s dividend payout ratio is currently 3.18%.

Insiders Place Their Bets

In other Loews news, Director Dino Robusto bought 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director directly owned 10,235 shares in the company, valued at $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.00% of the company’s stock.

Hedge Funds Weigh In On Loews

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC lifted its stake in Loews by 2.3% in the 1st quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider’s stock worth $445,000 after purchasing an additional 95 shares in the last quarter. Lido Advisors LLC grew its holdings in Loews by 3.9% in the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider’s stock valued at $277,000 after buying an additional 97 shares in the last quarter. Hancock Whitney Corp grew its holdings in Loews by 3.9% in the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after buying an additional 98 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Loews by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider’s stock worth $3,356,000 after acquiring an additional 100 shares during the period. Finally, Independent Advisor Alliance boosted its position in shares of Loews by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 107 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Company Profile

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.