Loews (NYSE:L) Sees Strong Trading Volume - Time to Buy?

Key Points

• Loews shares experienced a 24% increase in trading volume, with approximately 982,000 shares changing hands, while the stock traded near $104.10—below its 50-day and 200-day moving averages.
• Weiss Ratings upgraded Loews to “buy (a-),” and MarketBeat data shows a consensus “Strong Buy” rating. The company reported quarterly EPS of $2.16 on $4.73 billion in revenue.
• Loews maintains a quarterly dividend of $0.0625 per share, or $0.25 annually, yielding about 0.2%; institutional investors and hedge funds own approximately 58.33% of the stock.

Loews Corporation (NYSE:L - Get Free Report) shares saw an uptick in trading volume on Thursday. Approximately 981,994 shares changed hands during trading, an increase of 24% from the previous session's volume of 793,787 shares. The stock last traded at $104.0990 and had previously closed at $104.43.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has a consensus rating of "Strong Buy".

Loews Stock Performance

The stock's fifty day simple moving average is $111.06 and its two-hundred day simple moving average is $109.90. The company has a market cap of $21.42 billion, a price-to-earnings ratio of 12.84 and a beta of 0.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.60% and a net margin of 9.02%.The business had revenue of $4.73 billion during the quarter.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Loews's payout ratio is currently 3.06%.

Institutional Investors Weigh In On Loews

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Loews during the 2nd quarter worth approximately $1,621,369,000. Legal & General Group Plc bought a new position in shares of Loews during the second quarter worth about $140,248,000. Bank of New York Mellon Corp acquired a new stake in Loews in the 2nd quarter valued at approximately $107,461,000. Goldman Sachs Group Inc. increased its stake in Loews by 32.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider's stock valued at $340,986,000 after buying an additional 786,381 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of Loews in the 2nd quarter worth $79,560,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Loews Company Profile

Loews Corporation NYSE: L is a diversified holding company headquartered in New York City. Its principal businesses operate in insurance, energy infrastructure, hospitality and packaging, giving the company exposure to several industries rather than relying on a single operating segment.

Loews owns a controlling interest in CNA Financial, a commercial property and casualty insurance company that provides insurance products and services to businesses and organizations. It also owns Boardwalk Pipelines, which operates interstate natural gas transmission and storage systems, and Loews Hotels & Co, a hospitality company that manages and develops hotels and resorts in the United States and Canada.

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