Loews (NYSE:L) Sets New 1-Year High – Should You Buy?

Loews Co. (NYSE:L) shares hit a new 52-week high on Monday . The stock traded as high as $84.59 and last traded at $84.33, with a volume of 153847 shares trading hands. The stock had previously closed at $83.67.

Analysts Set New Price Targets

L has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on shares of Loews from $115.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th. Finally, StockNews.com raised shares of Loews from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 12th.

Loews Stock Up 0.9 %

The company has a market cap of $18.38 billion, a P/E ratio of 11.21 and a beta of 0.82. The stock has a 50-day moving average of $79.83 and a 200 day moving average of $78.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.30%. Loews’s dividend payout ratio is currently 3.32%.

Insider Transactions at Loews

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares in the company, valued at approximately $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now owns 6,781,634 shares in the company, valued at approximately $548,227,292.56. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,587 shares of company stock valued at $17,586,460. Corporate insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

Several large investors have recently modified their holdings of the business. Optas LLC lifted its stake in shares of Loews by 1.9% in the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after acquiring an additional 151 shares during the period. Summit Trail Advisors LLC raised its holdings in Loews by 2.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 153 shares during the last quarter. Atomi Financial Group Inc. lifted its position in shares of Loews by 4.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 169 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Loews by 6.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 186 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Loews by 5.2% in the 3rd quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 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.