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

Shares of Loews Corporation (NYSE:L) 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 trading hands. The stock had previously closed at $110.89.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Loews Trading Up 0.8%

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $23.19 billion, a P/E ratio of 16.32 and a beta of 0.61. The stock has a 50-day moving average price of $104.99 and a two-hundred day moving average price of $100.94.

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

Loews Announces Dividend

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

Insider Transactions at Loews

In other news, Director Paul J. Fribourg sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $108.13, for a total value of $155,923.46. Following the completion of the transaction, the director owned 400 shares in the company, valued at $43,252. This trade represents a 78.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $105.07, for a total value of $5,253,500.00. Following the sale, the director owned 12,909,642 shares in the company, valued at $1,356,416,084.94. This represents a 0.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 125,770 shares of company stock worth $13,325,818. 18.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Loews during the second quarter valued at approximately $665,658,000. Danske Bank A S bought a new stake in shares of Loews in the 3rd quarter worth approximately $35,724,000. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Loews in the 4th quarter worth approximately $23,883,000. Dark Forest Capital Management LP grew 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 worth $22,207,000 after buying an additional 188,812 shares during the last quarter. Finally, Amundi increased its position 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 buying an additional 179,383 shares in 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.