Loews (NYSE:L) Reaches New 12-Month High at $53.34
Loews Co. (NYSE:L) hit a new 52-week high on Tuesday . The stock traded as high as $53.34 and last traded at $53.02, with a volume of 2674 shares traded. The stock had previously closed at $52.74.
The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of -13.58 and a beta of 0.90. The firm has a 50-day moving average price of $50.68 and a two-hundred day moving average price of $44.06.
Loews (NYSE:L) last issued its earnings results on Monday, February 8th. The insurance provider reported $1.60 earnings per share for the quarter. Loews had a positive return on equity of 3.16% and a negative net margin of 8.71%. The business had revenue of $3.71 billion for the quarter.
In other Loews news, SVP Richard Waldo Scott sold 6,378 shares of Loews stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $51.34, for a total value of $327,446.52. Following the transaction, the senior vice president now directly owns 45,151 shares in the company, valued at approximately $2,318,052.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan M. Tisch sold 4,469 shares of Loews stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $48.34, for a total value of $216,031.46. Following the completion of the transaction, the insider now owns 9,397 shares in the company, valued at $454,250.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,017 shares of company stock worth $551,878. 15.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Perigon Wealth Management LLC purchased a new stake in shares of Loews in the fourth quarter valued at approximately $27,000. Childress Capital Advisors LLC purchased a new stake in shares of Loews in the fourth quarter valued at approximately $36,000. First Mercantile Trust Co. boosted its stake in shares of Loews by 206.3% in the fourth quarter. First Mercantile Trust Co. now owns 824 shares of the insurance provider’s stock valued at $37,000 after buying an additional 555 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of Loews in the fourth quarter valued at approximately $54,000. Finally, Tacita Capital Inc purchased a new stake in shares of Loews in the fourth quarter valued at approximately $101,000. Institutional investors own 57.36% of the company’s stock.
About Loews (NYSE:L)
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 property, marine, and boiler and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto and umbrella coverages.
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