Traders Purchase Large Volume of Call Options on Loews Corporation (L)
Loews Corporation (NYSE:L) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 2,297 call options on the company. This represents an increase of approximately Infinity compared to the average daily volume of 0 call options.
Several brokerages have recently commented on L. BidaskClub upgraded Loews Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Loews Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine lowered Loews Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $35.00.
In other Loews Corporation news, insider Jonathan M. Tisch sold 1,394,935 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.40, for a total transaction of $67,514,854.00. Following the completion of the sale, the insider now owns 2,169,075 shares in the company, valued at approximately $104,983,230. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of L. Commerce Bank boosted its position in Loews Corporation by 0.3% during the 2nd quarter. Commerce Bank now owns 7,229 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 24 shares during the period. D.A. Davidson & CO. boosted its position in Loews Corporation by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 2,828 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 27 shares during the period. Capstone Investment Advisors Netherlands B.V. boosted its position in Loews Corporation by 0.9% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,076 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc boosted its position in Loews Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 28,352 shares of the insurance provider’s stock valued at $1,327,000 after purchasing an additional 73 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Loews Corporation by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,100 shares of the insurance provider’s stock valued at $800,000 after purchasing an additional 100 shares during the period. Institutional investors own 58.76% of the company’s stock.
Loews Corporation (NYSE L) opened at $49.61 on Friday. The stock has a market capitalization of $16.66 billion, a P/E ratio of 17.19 and a beta of 0.75. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.46.
Loews Corporation (NYSE:L) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.02 by $0.44. The company had revenue of $3.52 billion during the quarter. Loews Corporation had a return on equity of 4.08% and a net margin of 7.04%. Loews Corporation’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. research analysts expect that Loews Corporation will post 2.75 earnings per share for the current year.
About Loews Corporation
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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