Loews (NYSE:L) Reaches New 1-Year High - Here's What Happened

Key Points

• Loews Corporation's stock price reached a new 52-week high of $100.59 during trading, closing at $100.45 with a market capitalization of $20.82 billion.
• The company reported $1.87 earnings per share for their latest quarter, with revenue of $4.56 billion and a net margin of 7.47%.
• Loews announced a quarterly dividend of $0.0625 per share, representing an annual yield of 0.2% and a dividend payout ratio of 3.97%.

Loews Corporation (NYSE:L - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.59 and last traded at $100.45, with a volume of 258332 shares changing hands. The stock had previously closed at $99.67.

Loews Stock Performance

The stock has a market capitalization of $20.82 billion, a P/E ratio of 15.96 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. The business has a fifty day moving average price of $95.34 and a 200-day moving average price of $90.82.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.The company 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 issued a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio is currently 3.97%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Loews by 27.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,486 shares of the insurance provider's stock worth $1,227,000 after buying an additional 3,140 shares during the period. Versant Capital Management Inc grew its position in shares of Loews by 207.4% during the first quarter. Versant Capital Management Inc now owns 1,125 shares of the insurance provider's stock worth $103,000 after purchasing an additional 759 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Loews by 10,114.9% during the first quarter. GAMMA Investing LLC now owns 672,138 shares of the insurance provider's stock worth $61,776,000 after purchasing an additional 665,558 shares in the last quarter. Advisory Alpha LLC purchased a new stake in shares of Loews during the first quarter worth about $221,000. Finally, Rhumbline Advisers grew its position in shares of Loews by 9.5% during the first quarter. Rhumbline Advisers now owns 367,536 shares of the insurance provider's stock worth $33,780,000 after purchasing an additional 31,781 shares in the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Company Profile

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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