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

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 $92.47 and last traded at $92.43, with a volume of 406499 shares changing hands. The stock had previously closed at $91.66.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

Loews Price Performance

The stock has a market capitalization of $19.37 billion, a P/E ratio of 15.17 and a beta of 0.70. The company's 50 day simple moving average is $88.64 and its two-hundred day simple moving average is $86.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The business had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.27%. Loews's dividend payout ratio (DPR) is 4.11%.

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president owned 33,901 shares of the company's stock, valued at approximately $2,980,575.92. This represents a 21.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Loews

Several large investors have recently made changes to their positions in the company. Gilder Gagnon Howe & Co. LLC raised its position in shares of Loews by 3.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock valued at $329,000 after acquiring an additional 122 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Loews by 3.5% during the first quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider's stock worth $354,000 after purchasing an additional 130 shares during the period. Signaturefd LLC grew its stake in shares of Loews by 4.0% during the first quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock worth $362,000 after purchasing an additional 152 shares during the period. Salvus Wealth Management LLC increased its holdings in Loews by 1.4% in the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock valued at $1,089,000 after purchasing an additional 165 shares during the last quarter. Finally, Flynn Zito Capital Management LLC lifted its stake in Loews by 5.9% in the first quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds 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.