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

Loews Corporation (NYSE:L)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $116.70 and last traded at $116.32, with a volume of 589866 shares traded. The stock had previously closed at $116.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Loews currently has an average rating of “Strong Buy”.

Loews Stock Performance

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 firm’s 50-day moving average price is $108.51 and its two-hundred day moving average price is $107.80. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 14.78 and a beta of 0.52.

Loews (NYSE:L) last posted 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 business had revenue of $4.55 billion for the quarter.

Loews Announces Dividend

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

Insider Activity

In related news, Director Dino Robusto bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the transaction, the director directly owned 10,235 shares of the company’s stock, valued at $1,072,013.90. This represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.00% of the company’s stock.

Institutional Trading of Loews

A number of large investors have recently bought and sold shares of the stock. DV Equities LLC acquired a new position in Loews during the fourth quarter worth $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the 4th quarter valued at $27,000. Harbor Investment Advisory LLC bought a new stake in shares of Loews in the 4th quarter worth about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Loews in the 3rd quarter worth about $30,000. Finally, Private Trust Co. NA increased its position in shares of Loews by 896.7% during the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

About Loews

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.