Loews (NYSE:L) Sets New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

Several equities analysts have recently commented on L shares. StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada upgraded shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group dropped their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Loews Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $18.40 billion, a P/E ratio of 11.17 and a beta of 0.82. The company’s 50 day simple moving average is $80.01 and its two-hundred day simple moving average is $78.24.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date of this dividend 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 Activity at Loews

In other Loews news, Director Andrew H. Tisch sold 75,000 shares of Loews stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares in the company, valued at $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann E. Berman sold 1,087 shares of Loews stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,587 shares of company stock worth $17,586,460 over the last ninety days. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB bought a new stake in Loews during the 1st quarter worth approximately $23,646,000. TD Asset Management Inc lifted its position in shares of Loews by 77.9% during the second quarter. TD Asset Management Inc now owns 525,920 shares of the insurance provider’s stock valued at $39,307,000 after purchasing an additional 230,231 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Loews by 92.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock worth $37,745,000 after buying an additional 229,956 shares during the last quarter. Bank of Montreal Can grew its stake in Loews by 106.3% during the second quarter. Bank of Montreal Can now owns 353,160 shares of the insurance provider’s stock valued at $27,338,000 after acquiring an additional 182,009 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Loews during the second quarter valued at approximately $13,379,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

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.