Loews (NYSE:L) Upgraded at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Loews (NYSE:L – Free Report) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

A number of other research analysts have also issued reports on L. Royal Bank of Canada upgraded Loews to a “moderate buy” rating in a research report on Friday, July 26th. Jefferies Financial Group dropped their target price 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.

Get Our Latest Analysis on Loews

Loews Stock Performance

Shares of NYSE L opened at $82.80 on Tuesday. The company has a 50 day simple moving average of $79.71 and a two-hundred day simple moving average of $78.01. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 11.00 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 has a 12 month low of $66.16 and a 12 month high of $84.56.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a dividend yield of 0.30%. Loews’s dividend payout ratio is currently 3.32%.

Insider Activity

In related news, Director Ann E. Berman sold 1,087 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the transaction, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This represents a 17.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,587 shares of company stock valued at $13,423,460. 18.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Loews

A number of hedge funds have recently added to or reduced their stakes in L. Optas LLC raised its holdings in Loews by 1.9% during the second quarter. Optas LLC now owns 8,086 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 151 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Loews by 2.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 153 shares during the period. Atomi Financial Group Inc. boosted its holdings in shares of Loews by 4.3% during the third quarter. Atomi Financial Group Inc. now owns 4,111 shares of the insurance provider’s stock worth $325,000 after purchasing an additional 169 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Loews by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 3,195 shares of the insurance provider’s stock valued at $239,000 after purchasing an additional 186 shares during the period. Finally, Ballentine Partners LLC increased its stake in Loews by 5.2% in the third quarter. Ballentine Partners LLC now owns 3,772 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

About Loews

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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.

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