Loews (NYSE:L) Rating Increased to Moderate Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Loews (NYSE:L) to a moderate buy rating in a research note released on Friday morning, Zacks.com reports.

Loews Stock Performance

NYSE:L opened at $78.86 on Friday. The company has a fifty day moving average of $75.98 and a 200-day moving average of $75.40. The firm has a market capitalization of $17.46 billion, a P/E ratio of 11.70 and a beta of 0.84. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews has a twelve month low of $61.29 and a twelve month high of $83.54.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $2.05 earnings per share (EPS) for the quarter. The firm had revenue of $4.23 billion for the quarter. Loews had a net margin of 9.27% and a return on equity of 9.45%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.32%. The ex-dividend date was Wednesday, May 29th. Loews’s dividend payout ratio (DPR) is presently 3.71%.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total transaction of $3,862,000.00. Following the sale, the insider now directly owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 150,000 shares of company stock valued at $11,588,500 over the last three months. 18.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Loews

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Loews in the fourth quarter worth approximately $26,000. Northwest Financial Advisors bought a new position in shares of Loews in the fourth quarter worth approximately $28,000. Versant Capital Management Inc grew its position in Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 266 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 340 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Loews during the fourth quarter worth approximately $38,000. 58.33% of the stock is currently owned by institutional investors.

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.