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

Key Points

• Shares of Loews Corporation reached a new 52-week high of $98.37 during trading, closing at $98.08 with a market capitalization of $20.32 billion.
• Loews reported a quarterly earnings per share of $1.87 and announced a dividend of $0.0625, representing a 0.3% yield.
• Institutional investors hold 58.33% of Loews' stock, with significant recent investments from firms like Jane Street Group LLC, which increased their position by 218.1%.

Shares of Loews Corporation (NYSE:L - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $98.37 and last traded at $98.08, with a volume of 106517 shares. The stock had previously closed at $97.24.

Loews Price Performance

The company's fifty day moving average is $94.54 and its two-hundred day moving average is $90.32. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 15.58 and a beta of 0.73. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend payout ratio is presently 3.97%.

Institutional Investors Weigh In On Loews

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Loews by 218.1% during the first quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider's stock worth $13,056,000 after acquiring an additional 97,391 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Loews during the first quarter worth $224,000. American Century Companies Inc. increased its position in shares of Loews by 7.4% during the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider's stock worth $8,846,000 after acquiring an additional 6,660 shares in the last quarter. Advisory Alpha LLC bought a new stake in shares of Loews during the first quarter worth $284,000. Finally, SG Americas Securities LLC increased its position in shares of Loews by 589.9% during the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after acquiring an additional 8,689 shares in the last quarter. Institutional investors own 58.33% of the company's stock.

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.

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