Loews (NYSE:L) Hits New 1-Year High at $67.49

Loews Co. (NYSE:L)’s share price reached a new 52-week high on Monday . The stock traded as high as $67.49 and last traded at $67.47, with a volume of 196997 shares traded. The stock had previously closed at $67.00.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Loews from $174.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com assumed coverage on shares of Loews in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Loews Stock Up 0.9 %

The stock’s fifty day moving average price is $64.31 and its 200 day moving average price is $61.62. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.09 billion, a P/E ratio of 11.54 and a beta of 0.80.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $1.12 EPS for the quarter. The firm had revenue of $3.93 billion for the quarter. Loews had a return on equity of 8.95% and a net margin of 8.76%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Wednesday, November 22nd will be issued a $0.0625 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $0.25 annualized dividend and a dividend yield of 0.37%. Loews’s dividend payout ratio is currently 4.28%.

Insider Activity at Loews

In other news, Director Paul J. Fribourg sold 561 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $62.56, for a total value of $35,096.16. Following the transaction, the director now owns 3,292 shares in the company, valued at $205,947.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul J. Fribourg sold 561 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $62.56, for a total transaction of $35,096.16. Following the completion of the sale, the director now directly owns 3,292 shares in the company, valued at $205,947.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan C. Locker purchased 15,870 shares of Loews stock in a transaction that occurred on Tuesday, October 31st. The shares were acquired at an average price of $63.75 per share, for a total transaction of $1,011,712.50. Following the acquisition, the director now owns 15,870 shares in the company, valued at $1,011,712.50. The disclosure for this purchase can be found here. 18.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Loews

Institutional investors and hedge funds have recently modified their holdings of the stock. Kinneret Advisory LLC lifted its stake in shares of Loews by 2.3% in the first quarter. Kinneret Advisory LLC now owns 7,244 shares of the insurance provider’s stock worth $470,000 after buying an additional 162 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in Loews by 2.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 6,895 shares of the insurance provider’s stock valued at $409,000 after acquiring an additional 181 shares in the last quarter. Optas LLC boosted its stake in Loews by 2.4% during the 3rd quarter. Optas LLC now owns 7,615 shares of the insurance provider’s stock valued at $482,000 after purchasing an additional 181 shares during the last quarter. United Capital Financial Advisers LLC raised its stake in shares of Loews by 2.7% in the fourth quarter. United Capital Financial Advisers LLC now owns 6,849 shares of the insurance provider’s stock worth $400,000 after purchasing an additional 183 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Loews by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,856 shares of the insurance provider’s stock worth $244,000 after buying an additional 201 shares during the last quarter. 54.03% of the stock is owned by hedge funds and other 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 property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.