Loews (NYSE:L) Upgraded at StockNews.com

StockNews.com upgraded shares of Loews (NYSE:L) 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.

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

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.