Loews (NYSE:L) Sets New 52-Week High – What’s Next?

Loews Co. (NYSE:L)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $84.59 and last traded at $84.33, with a volume of 153847 shares changing hands. The stock had previously closed at $83.67.

Analyst Upgrades and Downgrades

L has been the subject of a number of research reports. StockNews.com raised shares of Loews from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group decreased their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th.

Loews Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.38 billion, a P/E ratio of 11.21 and a beta of 0.82. The firm’s 50-day simple moving average is $79.83 and its 200 day simple moving average is $78.13.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is presently 3.32%.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the transaction, the director now directly owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Tisch sold 25,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the transaction, the insider now owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock valued at $17,586,460 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Loews

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orion Portfolio Solutions LLC boosted its position in Loews by 22.0% during the first quarter. Orion Portfolio Solutions LLC now owns 18,299 shares of the insurance provider’s stock valued at $1,433,000 after purchasing an additional 3,296 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Loews by 5.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 174,867 shares of the insurance provider’s stock valued at $13,690,000 after buying an additional 8,527 shares during the period. Vanguard Group Inc. lifted its position in shares of Loews by 2.5% in the first quarter. Vanguard Group Inc. now owns 21,156,933 shares of the insurance provider’s stock valued at $1,656,376,000 after buying an additional 507,513 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of Loews by 65.3% during the 1st quarter. TIAA Trust National Association now owns 9,128 shares of the insurance provider’s stock worth $715,000 after acquiring an additional 3,606 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Loews by 89.1% during the 1st quarter. Covestor Ltd now owns 1,303 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 614 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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 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.