Loews (NYSE:L) Sets New 52-Week High – Still a Buy?

Shares of Loews Co. (NYSE:L) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $92.13 and last traded at $91.51, with a volume of 567650 shares. The stock had previously closed at $91.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Loews from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Loews Price Performance

The firm has a market cap of $19.49 billion, a PE ratio of 14.31 and a beta of 0.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a 50-day simple moving average of $85.78 and a 200 day simple moving average of $83.44.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insiders Place Their Bets

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the sale, the director now owns 1,568,191 shares of the company’s stock, valued at approximately $132,276,910.85. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now directly owns 6,705,529 shares in the company, valued at approximately $569,165,301.52. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,860 shares of company stock valued at $13,486,463. 18.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Loews

A number of hedge funds have recently bought and sold shares of L. Venturi Wealth Management LLC lifted its holdings in shares of Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after buying an additional 119 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in Loews by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider’s stock valued at $329,000 after acquiring an additional 122 shares during the period. Wedmont Private Capital lifted its holdings in Loews by 5.2% in the fourth quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock valued at $249,000 after acquiring an additional 151 shares during the period. Mather Group LLC. grew its stake in shares of Loews by 7.7% during the 4th quarter. Mather Group LLC. now owns 2,248 shares of the insurance provider’s stock valued at $190,000 after purchasing an additional 161 shares during the period. Finally, Perigon Wealth Management LLC grew its stake in shares of Loews by 5.9% during the 4th quarter. Perigon Wealth Management LLC now owns 3,306 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

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.