Loews (NYSE:L) Sets New 12-Month High - Time to Buy?

Key Points

• Loews Corporation's stock has reached a new 52-week high of $98.18, indicating strong investor interest and performance.
• The company reported $1.87 earnings per share for the last quarter, with a revenue of $4.56 billion and a net margin of 7.47%.
• Loews also announced a quarterly dividend of $0.0625 per share, reflecting a modest annual yield of 0.3% and a low payout ratio of 3.97%.

Loews Corporation (NYSE:L - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $98.18 and last traded at $98.14, with a volume of 577601 shares trading hands. The stock had previously closed at $96.12.

Loews Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 15.25 and a beta of 0.73. The stock's 50 day simple moving average is $94.06 and its 200-day simple moving average is $89.98.

Loews (NYSE:L - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, August 20th. Loews's dividend payout ratio is 3.97%.

Institutional Trading of Loews

Large investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC raised its position in Loews by 15.5% during the second quarter. Orion Porfolio Solutions LLC now owns 12,139 shares of the insurance provider's stock worth $1,113,000 after acquiring an additional 1,629 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Loews during the 2nd quarter worth approximately $679,000. CYBER HORNET ETFs LLC purchased a new position in Loews in the second quarter worth approximately $44,000. CANADA LIFE ASSURANCE Co grew its position in Loews by 13.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 311,862 shares of the insurance provider's stock worth $28,635,000 after acquiring an additional 36,538 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Loews during the second quarter valued at about $48,000. 58.33% of the stock is owned by hedge funds and other 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.