Loews (NYSE:L) Reaches New 12-Month High - Here's Why

Key Points

• Shares of Loews Corporation reached a new 52-week high of $102.84 on Monday, with a trading volume of 49,414 shares.
• Weiss Ratings reaffirmed a "buy (b+)" rating for Loews, contributing to a consensus rating of "Buy" among analysts.
• Loews announced a quarterly dividend of $0.0625 per share, resulting in an annualized yield of 0.2%.

Shares of Loews Corporation (NYSE:L - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $102.84 and last traded at $102.59, with a volume of 49414 shares trading hands. The stock had previously closed at $101.68.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Loews in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

Loews Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. The stock's fifty day moving average is $96.08 and its 200-day moving average is $91.20. The stock has a market cap of $21.24 billion, a PE ratio of 16.28 and a beta of 0.73.

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. The company had revenue of $4.56 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews's dividend payout ratio (DPR) is 3.97%.

Hedge Funds Weigh In On Loews

Hedge funds have recently modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in shares of Loews in the 1st quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC purchased a new stake in Loews in the second quarter valued at approximately $27,000. Sierra Ocean LLC raised its position in Loews by 805.9% in the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after purchasing an additional 274 shares during the period. Elequin Capital LP acquired a new position in Loews during the first quarter worth $30,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Loews during the first quarter worth $33,000. 58.33% of the stock is currently 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.

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