Loews Corporation (L) Upgraded to “Hold” at BidaskClub
Loews Corporation (NYSE:L) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.
A number of other brokerages also recently commented on L. Jefferies Group LLC restated a “sell” rating and set a $35.00 target price on shares of Loews Corporation in a report on Tuesday, June 6th. Zacks Investment Research downgraded Loews Corporation from a “buy” rating to a “hold” rating in a report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Loews Corporation presently has a consensus rating of “Hold” and an average target price of $43.33.
Shares of Loews Corporation (NYSE L) traded up 0.25% during mid-day trading on Tuesday, hitting $47.77. 619,807 shares of the stock traded hands. The firm’s 50-day moving average is $46.79 and its 200-day moving average is $46.73. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 19.11 and a beta of 0.71. Loews Corporation has a 52 week low of $38.17 and a 52 week high of $48.05.
Loews Corporation (NYSE:L) last announced its earnings results on Monday, May 1st. The insurance provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.21. The company had revenue of $3.30 billion during the quarter. Loews Corporation had a return on equity of 4.67% and a net margin of 6.23%. During the same quarter in the prior year, the company earned $0.30 EPS. On average, analysts forecast that Loews Corporation will post $3.10 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Wednesday, May 31st will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.52%. Loews Corporation’s dividend payout ratio (DPR) is 10.25%.
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A number of institutional investors have recently bought and sold shares of the company. Focused Wealth Management Inc increased its position in Loews Corporation by 475.0% in the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $108,000 after buying an additional 1,900 shares during the period. Parallel Advisors LLC increased its position in Loews Corporation by 285.2% in the first quarter. Parallel Advisors LLC now owns 2,681 shares of the insurance provider’s stock worth $126,000 after buying an additional 1,985 shares during the period. Private Advisor Group LLC purchased a new position in Loews Corporation during the first quarter worth about $127,000. Oppenheimer Asset Management Inc. purchased a new position in Loews Corporation during the first quarter worth about $175,000. Finally, Cedar Wealth Management LLC increased its position in Loews Corporation by 5.0% in the first quarter. Cedar Wealth Management LLC now owns 4,010 shares of the insurance provider’s stock worth $188,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.
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.
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