Loews (NYSE:L) Hits New 12-Month High – Here’s Why

Loews Co. (NYSE:L) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $86.79 and last traded at $86.49, with a volume of 79546 shares traded. The stock had previously closed at $86.07.

Analyst Ratings Changes

Several research firms have commented on L. Jefferies Financial Group cut their price objective on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Loews Price Performance

The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $80.44 and a 200-day simple moving average of $78.41. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 11.50 and a beta of 0.82.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews’s dividend payout ratio (DPR) is presently 3.32%.

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total transaction of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares in the company, valued at $548,227,292.56. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,587 shares of company stock valued at $17,586,460 over the last quarter. Insiders own 18.70% of the company’s stock.

Institutional Investors Weigh In On Loews

A number of hedge funds and other institutional investors have recently modified their holdings of L. Wilmington Savings Fund Society FSB bought a new position in Loews during the 3rd quarter valued at $49,000. Toronto Dominion Bank grew its holdings in Loews by 1.7% during the third quarter. Toronto Dominion Bank now owns 92,478 shares of the insurance provider’s stock worth $7,310,000 after acquiring an additional 1,570 shares during the period. Coldstream Capital Management Inc. raised its position in Loews by 13.6% in the third quarter. Coldstream Capital Management Inc. now owns 4,173 shares of the insurance provider’s stock worth $332,000 after acquiring an additional 501 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Loews by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after acquiring an additional 53,428 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Loews by 0.8% in the 3rd quarter. M&T Bank Corp now owns 46,677 shares of the insurance provider’s stock worth $3,690,000 after purchasing an additional 377 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

About Loews

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.