Loews (NYSE:L) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Loews (NYSE:L) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

A number of other analysts have also recently weighed in on L. Jefferies Financial Group dropped their price target on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Loews Trading Up 0.4 %

NYSE L opened at $84.49 on Wednesday. The firm has a market capitalization of $18.40 billion, a PE ratio of 11.22 and a beta of 0.82. Loews has a one year low of $67.20 and a one year high of $84.68. The company has a 50-day simple moving average of $80.14 and a 200-day simple moving average of $78.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34.

Loews Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.0625 per share. 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 payout ratio is 3.32%.

Insider Activity

In other news, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the sale, the insider now directly owns 461,395 shares in the company, valued at approximately $37,751,338.90. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Loews

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings 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 purchasing an additional 266 shares during the last quarter. Brooklyn Investment Group bought a new stake in Loews during the third quarter valued at about $40,000. Kimelman & Baird LLC acquired a new stake in shares of Loews in the second quarter valued at about $45,000. Family Firm Inc. bought a new position in shares of Loews in the second quarter worth about $46,000. Finally, Eastern Bank acquired a new position in shares of Loews during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Company Profile

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.