Loews Corp. (L) Sets New 1-Year High at $41.27
Loews Corp. (NYSE:L)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.27 and last traded at $41.20, with a volume of 331,551 shares trading hands. The stock had previously closed at $40.63.
Several brokerages recently issued reports on L. Zacks Investment Research lowered shares of Loews Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 6th. TheStreet upgraded shares of Loews Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 2nd.
The stock has a market capitalization of $13.99 billion and a P/E ratio of 57.71. The firm’s 50 day moving average is $40.13 and its 200 day moving average is $38.37.
Loews Corp. (NYSE:L) last posted its earnings results on Monday, May 2nd. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.17. The business had revenue of $3.17 billion for the quarter. During the same period last year, the business posted $0.29 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. Analysts anticipate that Loews Corp. will post $2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 14th. Stockholders of record on Wednesday, June 1st were issued a $0.0625 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.62%.
In other news, insider Gary W. Garson sold 1,120 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $39.68, for a total value of $44,441.60. Following the transaction, the insider now directly owns 11,250 shares in the company, valued at approximately $446,400. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of large investors have made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Loews Corp. by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 31,202 shares of the company’s stock valued at $1,198,000 after buying an additional 4,414 shares during the last quarter. US Bancorp DE increased its stake in shares of Loews Corp. by 14.4% in the fourth quarter. US Bancorp DE now owns 32,412 shares of the company’s stock valued at $1,245,000 after buying an additional 4,077 shares during the last quarter. Sawtooth Asset Management Inc. increased its stake in shares of Loews Corp. by 43,179.0% in the fourth quarter. Sawtooth Asset Management Inc. now owns 35,056 shares of the company’s stock valued at $1,346,000 after buying an additional 34,975 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in shares of Loews Corp. by 3.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 38,445 shares of the company’s stock valued at $1,476,000 after buying an additional 1,204 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Loews Corp. during the fourth quarter valued at $2,022,000.
Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas, and operation of a chain of hotels.
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