Insider Selling: Paul J. Fribourg Unloads 1,500 Shares of Loews Corp. Stock (L)
Loews Corp. (NYSE:L) Director Paul J. Fribourg sold 1,500 shares of the stock on the open market in a transaction dated Friday, May 30th. The shares were sold at an average price of $43.26, for a total transaction of $64,890.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Loews Corp. (NYSE:L) traded down 0.01% during mid-day trading on Tuesday, hitting $43.295. The stock had a trading volume of 409,840 shares. Loews Corp. has a one year low of $42.29 and a one year high of $49.43. The stock has a 50-day moving average of $43.46 and a 200-day moving average of $45.01. The company has a market cap of $16.733 billion and a P/E ratio of 41.04.
Loews Corp. (NYSE:L) last released its earnings data on Monday, April 28th. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.70 by $0.07. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts predict that Loews Corp. will post $2.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Thursday, May 29th.
A number of research firms have recently commented on L. Analysts at Zacks downgraded shares of Loews Corp. from an “outperform” rating to an “underperform” rating in a research note on Wednesday, May 21st. They now have a $39.00 price target on the stock. Separately, analysts at Deutsche Bank downgraded shares of Loews Corp. from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. They now have a $51.00 price target on the stock, down previously from $53.00. Finally, analysts at TheStreet downgraded shares of Loews Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.50.
Loews Corporation is a holding company. Its subsidiaries are engaged in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, exploration, production and marketing of natural gas and oil (NYSE:L), interstate transportation and storage of natural gas and operation of hotels.
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