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

Loews Corporation (NYSE:L - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $92.85 and last traded at $92.40, with a volume of 44416 shares trading hands. The stock had previously closed at $92.39.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

The stock has a 50 day moving average of $89.08 and a 200 day moving average of $86.72. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 14.85 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were issued 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 dividend yield of 0.28%. Loews's dividend payout ratio is 4.11%.

Insider Activity at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 33,901 shares in the company, valued at $2,980,575.92. The trade was a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Loews

Institutional investors have recently bought and sold shares of the stock. Gilder Gagnon Howe & Co. LLC boosted its position in Loews by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider's stock worth $329,000 after purchasing an additional 122 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Loews by 3.5% in 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 last quarter. Aaron Wealth Advisors LLC boosted its position in Loews by 3.9% in the second quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider's stock worth $344,000 after purchasing an additional 142 shares during the last quarter. Signaturefd LLC boosted its position in Loews by 4.0% in 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 last quarter. Finally, Salvus Wealth Management LLC boosted its position in Loews by 1.4% in the first quarter. Salvus Wealth Management LLC now owns 11,848 shares of the insurance provider's stock worth $1,089,000 after purchasing an additional 165 shares during 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.