Loews (NYSE:L) Reaches New 12-Month High – Should You Buy?

Loews Corporation (NYSE:L) reached a new 52-week high during trading on Wednesday . The stock traded as high as $115.00 and last traded at $114.8940, with a volume of 78425 shares trading hands. The stock had previously closed at $113.21.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Loews Stock Up 1.1%

The business has a 50-day simple moving average of $108.16 and a 200-day simple moving average of $107.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $23.55 billion, a price-to-earnings ratio of 14.55 and a beta of 0.53.

Loews (NYSE:L) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s payout ratio is 3.18%.

Insider Transactions at Loews

In other news, Director Dino Robusto purchased 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This represents a 95.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Loews

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Loews in the fourth quarter valued at about $577,279,000. Goldman Sachs Group Inc. increased its position in Loews by 32.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock valued at $340,986,000 after acquiring an additional 786,381 shares during the period. Caisse de depot et placement du Quebec raised its stake in Loews by 819.0% during the 4th quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock valued at $47,182,000 after acquiring an additional 399,281 shares during the last quarter. Danske Bank A S acquired a new stake in Loews during the 3rd quarter worth approximately $35,724,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Loews by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after purchasing an additional 344,995 shares during the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Company Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.