Loews (NYSE:L) posted its earnings results on Monday. The insurance provider reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($1.06), RTT News reports. Loews had a net margin of 8.94% and a return on equity of 4.75%. During the same period last year, the firm earned $0.81 EPS.
Shares of L stock opened at $47.47 on Monday. The firm has a market cap of $14.91 billion, a price-to-earnings ratio of 16.60 and a beta of 0.64. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.52. Loews has a 1-year low of $42.06 and a 1-year high of $53.04.
Several research firms have recently commented on L. Raymond James reaffirmed a “buy” rating and set a $66.00 price target on shares of Loews in a research report on Wednesday, November 14th. CIBC reissued an “average” rating and issued a $70.00 target price on shares of Loews in a research report on Thursday, November 15th. Finally, Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $54.94.
In other Loews news, Director Charles M. Diker sold 664 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $48.48, for a total transaction of $32,190.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David B. Edelson sold 18,073 shares of Loews stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $45.70, for a total transaction of $825,936.10. Following the completion of the transaction, the chief financial officer now directly owns 17,501 shares in the company, valued at approximately $799,795.70. The disclosure for this sale can be found here. Insiders sold a total of 41,653 shares of company stock valued at $1,891,638 over the last ninety days. Company insiders own 12.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Clean Yield Group acquired a new position in Loews during the 4th quarter valued at about $39,000. JNBA Financial Advisors acquired a new stake in shares of Loews in the 4th quarter valued at approximately $55,000. Lindbrook Capital LLC bought a new stake in Loews during the 4th quarter worth approximately $62,000. Oregon Public Employees Retirement Fund increased its stake in Loews by 4,728.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,401,027 shares of the insurance provider’s stock worth $75,000 after purchasing an additional 3,330,590 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Loews by 322.7% during the 4th quarter. Tortoise Investment Management LLC now owns 2,012 shares of the insurance provider’s stock worth $92,000 after purchasing an additional 1,536 shares in the last quarter. Hedge funds and other institutional investors own 64.24% of the company’s stock.
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Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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