Loews Corporation (NYSE:L) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Loews Corporation (NYSE:L) from a buy rating to a hold rating in a research report released on Thursday, October 26th.

L has been the topic of a number of other research reports. BidaskClub cut shares of Loews Corporation from a hold rating to a sell rating in a report on Thursday, August 24th. Zacks Investment Research cut shares of Loews Corporation from a hold rating to a sell rating in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $35.00.

Loews Corporation (NYSE L) traded up $0.17 during trading on Thursday, hitting $49.51. 874,200 shares of the stock traded hands, compared to its average volume of 1,131,548. The firm has a market capitalization of $16,666.60, a price-to-earnings ratio of 17.19 and a beta of 0.75. Loews Corporation has a 52 week low of $42.99 and a 52 week high of $49.99. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.

Loews Corporation (NYSE:L) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.44. Loews Corporation had a net margin of 7.04% and a return on equity of 4.08%. The firm had revenue of $3.52 billion for the quarter. During the same quarter last year, the company earned $0.89 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. sell-side analysts forecast that Loews Corporation will post 2.75 earnings per share for the current fiscal year.

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In related news, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the sale, the insider now directly owns 2,169,075 shares in the company, valued at $104,983,230. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,395,132 shares of company stock valued at $67,524,613. 11.80% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Commerce Bank boosted its stake in shares of Loews Corporation by 0.3% in the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 24 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Loews Corporation by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 27 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. raised its holdings in Loews Corporation by 0.9% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,076 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Loews Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock worth $1,327,000 after purchasing an additional 73 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock worth $800,000 after purchasing an additional 100 shares during the last quarter. 58.85% of the stock is currently owned by institutional investors.

Loews Corporation Company Profile

Loews Corporation is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids, and operation of a chain of hotels. The Company has five segments consisted of its four individual operating subsidiaries, CNA Financial Corporation (CNA), Diamond Offshore Drilling, Inc (Diamond Offshore), Boardwalk Pipeline Partners, LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels), and the Corporate segment.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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