Loews (NYSE:L) Reaches New 52-Week High - Time to Buy?

Key Points

• Loews shares hit a new 52-week high of $120.70 and were recently trading around $120.61, up 1.4%. The stock’s market capitalization is approximately $24.73 billion, with a P/E ratio of 15.25.
• Loews reported quarterly EPS of $1.63 on $4.55 billion in revenue, while maintaining a quarterly dividend of $0.0625, or $0.25 annually, yielding about 0.2%.
• MarketBeat reports a consensus “Buy” rating, although Weiss Ratings recently downgraded the stock from “buy (a-)” to “buy (b+).” Director Dino Robusto also purchased 5,000 shares, and insiders own 19% of the company.

Loews Corporation (NYSE:L - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $120.70 and last traded at $120.6110, with a volume of 55460 shares trading hands. The stock had previously closed at $118.54.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Loews presently has a consensus rating of "Buy".

Loews Stock Up 1.4%

The firm's fifty day moving average is $110.90 and its two-hundred day moving average is $108.76. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 15.25 and a beta of 0.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The firm had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

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

Insider Activity at Loews

In other news, Director Dino Robusto bought 5,000 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares in the company, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Loews

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DV Equities LLC bought a new stake in shares of Loews in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Loews in the fourth quarter valued at $27,000. Private Trust Co. NA boosted its stake in Loews by 896.7% during the fourth quarter. Private Trust Co. NA now owns 299 shares of the insurance provider's stock valued at $31,000 after buying an additional 269 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Loews during the third quarter valued at about $30,000. Finally, SHP Wealth Management acquired a new position in Loews during the fourth quarter worth about $35,000. 58.33% of the stock is owned by institutional investors.

Loews Company Profile

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.

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