StockNews.com Upgrades Loews (NYSE:L) to Buy

StockNews.com upgraded shares of Loews (NYSE:L) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

Loews Price Performance

Shares of L opened at $87.94 on Tuesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews has a twelve month low of $73.15 and a twelve month high of $92.42. The stock has a market capitalization of $18.50 billion, a P/E ratio of 13.74 and a beta of 0.70. The company has a 50 day moving average of $86.54 and a 200-day moving average of $84.88.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%. The firm had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a $0.0625 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.28%. Loews’s dividend payout ratio is 3.91%.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 47,636 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the completion of the transaction, the director now directly owns 6,705,529 shares of the company’s stock, valued at approximately $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 147,636 shares of company stock valued at $12,530,344 in the last 90 days. 19.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in Loews by 10.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 119 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Loews by 3.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 3,884 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 122 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of Loews by 3.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,855 shares of the insurance provider’s stock worth $354,000 after buying an additional 130 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Loews by 5.2% during the 4th quarter. Wedmont Private Capital now owns 3,065 shares of the insurance provider’s stock worth $249,000 after buying an additional 151 shares during the period. Finally, Signaturefd LLC raised its holdings in Loews by 4.0% in the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider’s stock valued at $362,000 after acquiring an additional 152 shares during the period. Institutional investors 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.