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

Loews Corporation (NYSE:L - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $92.47 and last traded at $92.43, with a volume of 406499 shares. The stock had previously closed at $91.66.

Analysts Set New Price Targets

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

Loews Trading Up 1.1%

The stock has a market capitalization of $19.37 billion, a P/E ratio of 15.17 and a beta of 0.70. The stock's fifty day moving average price is $88.64 and its 200 day moving average price 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 issued its earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The business had revenue of $4.49 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.27%. Loews's payout ratio is currently 4.11%.

Insiders Place Their Bets

In related news, SVP Richard Waldo Scott sold 9,019 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president directly owned 33,901 shares of the company's stock, valued at $2,980,575.92. This represents a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in L. Novem Group bought a new position in shares of Loews during the 4th quarter worth approximately $678,000. SG Americas Securities LLC increased its position in shares of Loews by 589.9% during the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider's stock worth $934,000 after purchasing an additional 8,689 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Loews during the 4th quarter valued at $440,000. Steward Partners Investment Advisory LLC boosted its position in shares of Loews by 13.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,433 shares of the insurance provider's stock worth $206,000 after purchasing an additional 288 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Loews by 14.8% during the 4th quarter. Prudential Financial Inc. now owns 162,256 shares of the insurance provider's stock worth $13,741,000 after buying an additional 20,874 shares during the last quarter. 58.33% of the stock is owned by 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.