Loews (NYSE:L) Hits New 52-Week High – Should You Buy?

Loews Corporation (NYSE:L)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $105.40 and last traded at $105.1630, with a volume of 801131 shares. The stock had previously closed at $104.21.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Loews Price Performance

The firm has a 50 day moving average price of $100.27 and a two-hundred day moving average price of $94.51. The company has a market cap of $21.73 billion, a P/E ratio of 16.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. The business had revenue of $3.94 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, November 26th. Loews’s dividend payout ratio is presently 3.62%.

Hedge Funds Weigh In On Loews

A number of large investors have recently made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its holdings in Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Loews during the 2nd quarter valued at about $27,000. Elequin Capital LP bought a new stake in shares of Loews during the first quarter valued at about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Loews in the third quarter worth about $30,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Loews in the first quarter worth about $33,000. 58.33% of the stock is owned by institutional investors.

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.