Loews (NYSE:L) Hits New 12-Month High at $78.35

Loews Co. (NYSE:L - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $78.35 and last traded at $78.26, with a volume of 36135 shares. The stock had previously closed at $78.10.

Loews Trading Up 0.2 %

The company has a fifty day simple moving average of $74.52 and a two-hundred day simple moving average of $69.47. The stock has a market capitalization of $17.40 billion, a P/E ratio of 12.43 and a beta of 0.82. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L - Get Free Report) last announced its earnings results on Monday, February 5th. The insurance provider reported $1.99 EPS for the quarter. Loews had a net margin of 9.02% and a return on equity of 9.18%. The firm had revenue of $4.26 billion for the quarter.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Tuesday, February 20th. Loews's dividend payout ratio is currently 3.97%.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 125,000 shares of Loews stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total transaction of $9,130,000.00. Following the sale, the director now directly owns 945,886 shares of the company's stock, valued at approximately $69,087,513.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Paul J. Fribourg sold 951 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.02, for a total transaction of $71,344.02. Following the transaction, the director now directly owns 21,200 shares of the company's stock, valued at approximately $1,590,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew H. Tisch sold 125,000 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $73.04, for a total value of $9,130,000.00. Following the sale, the director now owns 945,886 shares of the company's stock, valued at $69,087,513.44. The disclosure for this sale can be found here. Insiders have sold 137,563 shares of company stock valued at $10,052,551 over the last ninety days. 18.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Loews

Several large investors have recently made changes to their positions in L. Raymond James & Associates raised its position in Loews by 9.5% in the 1st quarter. Raymond James & Associates now owns 59,878 shares of the insurance provider's stock worth $3,881,000 after purchasing an additional 5,176 shares during the period. American Century Companies Inc. boosted its stake in shares of Loews by 15.6% during the first quarter. American Century Companies Inc. now owns 19,679 shares of the insurance provider's stock valued at $1,275,000 after purchasing an additional 2,655 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Loews by 21.1% in the first quarter. MetLife Investment Management LLC now owns 53,610 shares of the insurance provider's stock worth $3,475,000 after purchasing an additional 9,333 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Loews by 4.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,236 shares of the insurance provider's stock worth $1,701,000 after buying an additional 1,081 shares during the period. Finally, Vontobel Holding Ltd. lifted its holdings in Loews by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 4,934 shares of the insurance provider's stock valued at $323,000 after buying an additional 300 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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.