Loews (NYSE:L) Price Target Cut to $112.00 by Analysts at Jefferies Financial Group

Loews (NYSE:L) had its price objective dropped by investment analysts at Jefferies Financial Group from $115.00 to $112.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the insurance provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 39.17% from the stock’s previous close.

Separately, Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th.

Loews Stock Up 2.1 %

NYSE L opened at $80.48 on Wednesday. Loews has a 52 week low of $61.29 and a 52 week high of $83.54. The firm has a market cap of $17.82 billion, a PE ratio of 11.94 and a beta of 0.83. The business’s fifty day simple moving average is $76.06 and its 200-day simple moving average is $75.47. 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 (NYSE:L) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. The business had revenue of $4.27 billion during the quarter. Loews had a net margin of 9.14% and a return on equity of 9.40%.

Insider Activity

In other Loews news, insider Marc A. Alpert 2,687 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Marc A. Alpert 2,687 shares of the stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $77.24, for a total value of $3,862,000.00. Following the transaction, the insider now owns 507,799 shares of the company’s stock, valued at $39,222,394.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,000 shares of company stock valued at $11,588,500. Company insiders own 18.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Loews in the second quarter valued at $57,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Loews by 7.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,648 shares of the insurance provider’s stock valued at $1,618,000 after purchasing an additional 1,524 shares in the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Loews in the 2nd quarter valued at about $13,379,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Loews by 455.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,156 shares of the insurance provider’s stock worth $6,813,000 after buying an additional 74,748 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Loews by 1.8% during the second quarter. Principal Financial Group Inc. now owns 241,516 shares of the insurance provider’s stock worth $18,051,000 after buying an additional 4,231 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

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.