Loews (NYSE:L) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Loews (NYSE:L) from a buy rating to a hold rating in a research note released on Tuesday.

Loews Stock Performance

NYSE L opened at $84.16 on Tuesday. The stock has a market capitalization of $18.33 billion, a PE ratio of 11.18 and a beta of 0.83. The business has a 50 day simple moving average of $84.60 and a two-hundred day simple moving average of $81.93. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. Loews has a 1-year low of $72.91 and a 1-year high of $88.29.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Loews Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, February 26th. Loews’s payout ratio is currently 3.91%.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 7,533 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total transaction of $635,408.55. Following the completion of the transaction, the director now owns 1,568,191 shares in the company, valued at $132,276,910.85. The trade was a 0.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold a total of 12,370 shares of company stock worth $1,055,627 in the last quarter. 18.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Loews

Several hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in shares of Loews by 14.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 264,412 shares of the insurance provider’s stock worth $22,384,000 after acquiring an additional 32,517 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Loews by 25.2% in the 4th quarter. Canada Pension Plan Investment Board now owns 243,677 shares of the insurance provider’s stock worth $20,637,000 after acquiring an additional 49,000 shares in the last quarter. Farringdon Capital Ltd. bought a new position in shares of Loews in the 4th quarter worth $223,000. United Capital Financial Advisors LLC raised its position in shares of Loews by 7.1% in the 4th quarter. United Capital Financial Advisors LLC now owns 5,197 shares of the insurance provider’s stock worth $440,000 after acquiring an additional 343 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Loews by 37.1% in the 4th quarter. Guggenheim Capital LLC now owns 19,937 shares of the insurance provider’s stock worth $1,688,000 after acquiring an additional 5,398 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

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.