StockNews.com Downgrades Loews (NYSE:L) to Buy

StockNews.com downgraded shares of Loews (NYSE:L) from a strong-buy rating to a buy rating in a research note published on Wednesday.

Several other research firms have also issued reports on L. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research note on Friday, July 26th. Jefferies Financial Group cut their price objective on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st.

Loews Stock Up 1.1 %

Shares of NYSE L opened at $86.07 on Wednesday. Loews has a 12-month low of $67.20 and a 12-month high of $86.27. The stock’s fifty day simple moving average is $80.44 and its two-hundred day simple moving average is $78.39. The stock has a market capitalization of $18.74 billion, a PE ratio of 11.43 and a beta of 0.82. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews’s dividend payout ratio is currently 3.32%.

Insider Buying and Selling at Loews

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 461,395 shares in the company, valued at approximately $37,751,338.90. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 50,000 shares of Loews stock in a transaction on Friday, November 15th. The stock was sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the sale, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. UniSuper Management Pty Ltd boosted its holdings in shares of Loews by 487.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 14,483 shares of the insurance provider’s stock valued at $1,134,000 after acquiring an additional 12,018 shares during the last quarter. Bessemer Group Inc. grew its position in Loews by 453.9% during the 1st quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock worth $1,443,000 after purchasing an additional 15,102 shares during the period. Toronto Dominion Bank raised its stake in shares of Loews by 0.4% during the 1st quarter. Toronto Dominion Bank now owns 126,561 shares of the insurance provider’s stock valued at $9,908,000 after buying an additional 450 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Loews by 9.5% in the 1st quarter. 1832 Asset Management L.P. now owns 26,911 shares of the insurance provider’s stock valued at $2,107,000 after buying an additional 2,326 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Loews in the first quarter worth about $4,449,000. 58.33% of the stock is owned by institutional investors and hedge funds.

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.