Loews (NYSE:L) Sets New 52-Week High Following Dividend Announcement

Loews Co. (NYSE:L) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as $88.29 and last traded at $85.89, with a volume of 1111551 shares traded. The stock had previously closed at $86.77.

The newly announced dividend which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, February 26th. Loews’s payout ratio is currently 3.32%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

Loews Stock Down 2.2 %

The stock has a 50 day moving average of $84.65 and a 200 day moving average of $81.93. The firm has a market capitalization of $18.07 billion, a price-to-earnings ratio of 11.02 and a beta of 0.83. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Insiders Place Their Bets

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,370 shares of company stock valued at $5,218,627. Company insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of L. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Loews in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in Loews in the 3rd quarter valued at approximately $40,000. Eastern Bank acquired a new stake in Loews in the 3rd quarter valued at approximately $47,000. Human Investing LLC bought a new stake in Loews during the 4th quarter valued at $51,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Loews in the third quarter worth $49,000. 58.33% of the stock is 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.