Loews (NYSE:L) Hits New 52-Week High at $78.35

Loews Co. (NYSE:L)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $78.35 and last traded at $78.26, with a volume of 36135 shares. The stock had previously closed at $78.10.

Loews Trading Up 0.2 %

The company has a market capitalization of $17.40 billion, a PE ratio of 12.40 and a beta of 0.82. The stock has a fifty day moving average of $74.38 and a two-hundred day moving average of $69.41. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The business had revenue of $4.26 billion for the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews’s payout ratio is 3.97%.

Insider Activity at Loews

In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now directly owns 51,965 shares in the company, valued at $3,851,645.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Richard Waldo Scott sold 7,325 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $74.12, for a total value of $542,929.00. Following the sale, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the transaction, the director now directly owns 945,886 shares of the company’s stock, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 137,563 shares of company stock worth $10,052,551 over the last quarter. Corporate insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Loews during the fourth quarter valued at approximately $26,000. Northwest Financial Advisors bought a new stake in shares of Loews in the fourth quarter worth $28,000. NBC Securities Inc. purchased a new stake in Loews during the third quarter valued at $29,000. West Tower Group LLC bought a new position in Loews in the fourth quarter valued at about $29,000. Finally, Operose Advisors LLC purchased a new position in Loews in the third quarter worth about $30,000. Institutional investors own 58.33% of the company’s stock.

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.