Loews (NYSE:L) Lowered to “Buy” Rating by 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 morning.

Several other research firms have also recently issued reports on L. Jefferies Financial Group decreased 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. Royal Bank of Canada raised shares of Loews to a “moderate buy” rating in a research note on Friday, July 26th.

Loews Stock Performance

Loews stock opened at $84.49 on Wednesday. The stock has a fifty day moving average price of $80.14 and a 200 day moving average price of $78.29. Loews has a 52 week low of $67.20 and a 52 week high of $84.68. The firm has a market capitalization of $18.40 billion, a P/E ratio of 11.22 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. Loews’s dividend payout ratio (DPR) is 3.32%.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 75,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the sale, the director now owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann E. Berman sold 1,087 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. This represents a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock valued at $17,586,460 over the last 90 days. Corporate insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

A number of institutional investors have recently added to or reduced their stakes in L. Versant Capital Management Inc increased its stake in shares of Loews by 244.0% in the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock worth $28,000 after buying an additional 266 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Loews in the 3rd quarter worth about $40,000. Eastern Bank acquired a new stake in shares of Loews in the 3rd quarter valued at about $47,000. Kimelman & Baird LLC acquired a new stake in shares of Loews in the 2nd quarter valued at about $45,000. Finally, Family Firm Inc. acquired a new position in Loews in the second quarter worth about $46,000. Institutional investors and hedge funds 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.