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

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

L has been the topic of several other reports. Royal Bank of Canada raised Loews to a “moderate buy” rating in a report on Friday, July 26th. Jefferies Financial Group decreased their price target on shares of Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st.

Loews Trading Up 1.1 %

Shares of L stock opened at $86.07 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82. Loews has a 12-month low of $67.20 and a 12-month high of $86.27. The stock’s 50-day moving average price is $80.44 and its 200-day moving average price is $78.39.

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 paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

Insider Transactions at Loews

In related news, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the sale, the insider now directly owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is currently owned by company insiders.

Institutional Trading of Loews

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its position in shares of Loews by 453.9% during the first quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider’s stock worth $1,443,000 after acquiring an additional 15,102 shares during the period. Swedbank AB increased its holdings in Loews by 15.6% during the 2nd quarter. Swedbank AB now owns 349,047 shares of the insurance provider’s stock worth $26,088,000 after purchasing an additional 47,013 shares during the period. Nisa Investment Advisors LLC raised its position in Loews by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 122,208 shares of the insurance provider’s stock valued at $9,134,000 after purchasing an additional 9,296 shares in the last quarter. UniSuper Management Pty Ltd lifted 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 worth $1,134,000 after buying an additional 12,018 shares during the period. Finally, iA Global Asset Management Inc. grew its position in shares of Loews by 171.4% during the 1st quarter. iA Global Asset Management Inc. now owns 21,768 shares of the insurance provider’s stock worth $1,704,000 after buying an additional 13,747 shares in the last quarter. 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.