Loews (NYSE:L) Sets New 12-Month High at $78.35

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

Loews Price Performance

The stock has a market capitalization of $17.40 billion, a PE ratio of 12.40 and a beta of 0.82. The firm’s 50 day simple moving average is $74.38 and its 200 day simple moving average is $69.41. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.32 and a quick ratio of 0.32.

Loews (NYSE:L) last released its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. The firm 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. Loews’s dividend payout ratio is currently 3.97%.

Insider Activity at Loews

In related news, SVP Richard Waldo Scott sold 7,325 shares of the 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 transaction, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at $3,851,645.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Loews news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the completion of the transaction, the director now owns 945,886 shares in the company, valued at $69,087,513.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $542,929.00. Following the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at $3,851,645.80. 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 have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in Loews by 112.1% during the 4th quarter. SG Americas Securities LLC now owns 49,417 shares of the insurance provider’s stock valued at $3,439,000 after buying an additional 26,120 shares during the last quarter. Metis Global Partners LLC boosted its position in Loews by 16.4% in the third quarter. Metis Global Partners LLC now owns 6,885 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 970 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Loews during the 3rd quarter valued at about $548,000. PNC Financial Services Group Inc. increased its position in shares of Loews by 15.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,679 shares of the insurance provider’s stock valued at $1,347,000 after purchasing an additional 3,083 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Loews by 5.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 174,415 shares of the insurance provider’s stock worth $11,042,000 after buying an additional 8,925 shares during the last quarter. Hedge funds and other 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.