Loews Co. (NYSE:L) has earned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $64.50.
Several equities research analysts have commented on the company. Barclays reiterated an “average” rating and set a $72.00 price objective on shares of Loews in a research note on Thursday, February 21st. Zacks Investment Research upgraded Loews from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Tuesday, May 7th. Finally, Scotiabank reiterated an “average” rating and set a $68.00 price objective on shares of Loews in a research note on Friday, February 22nd.
In other news, CAO Mark S. Schwartz sold 11,415 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $47.85, for a total value of $546,207.75. Following the completion of the sale, the chief accounting officer now directly owns 1 shares in the company, valued at $47.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph L. Bower sold 812 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $47.56, for a total value of $38,618.72. Following the completion of the sale, the director now owns 10,886 shares of the company’s stock, valued at $517,738.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,805 shares of company stock valued at $1,153,895. 14.20% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Legacy Bridge LLC acquired a new position in Loews in the first quarter valued at approximately $25,000. Glassman Wealth Services lifted its holdings in Loews by 182.0% in the first quarter. Glassman Wealth Services now owns 516 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 333 shares during the last quarter. Cresset Asset Management LLC acquired a new position in Loews in the first quarter valued at approximately $37,000. Clean Yield Group acquired a new position in Loews in the fourth quarter valued at approximately $39,000. Finally, JOYN Advisors Inc. lifted its holdings in Loews by 338.6% in the fourth quarter. JOYN Advisors Inc. now owns 943 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 728 shares during the last quarter. Institutional investors and hedge funds own 65.60% of the company’s stock.
NYSE L traded up $0.25 during trading hours on Wednesday, reaching $51.22. The company’s stock had a trading volume of 814,374 shares, compared to its average volume of 1,116,373. The stock has a market capitalization of $15.30 billion, a price-to-earnings ratio of 18.04 and a beta of 0.69. Loews has a 1-year low of $42.06 and a 1-year high of $52.35. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.51.
Loews (NYSE:L) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.31. The company had revenue of $3.76 billion during the quarter. Loews had a return on equity of 4.72% and a net margin of 5.17%. During the same period in the previous year, the company posted $0.80 EPS. Equities analysts predict that Loews will post 3.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Wednesday, May 29th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $0.25 annualized dividend and a yield of 0.49%. Loews’s dividend payout ratio (DPR) is currently 8.80%.
Loews Company Profile
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
Receive News & Ratings for Loews Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loews and related companies with MarketBeat.com's FREE daily email newsletter.