Loews (NYSE:L) was downgraded by equities researchers at Desjardins to a “hold” rating in a research note issued to investors on Tuesday. They presently have a $76.00 target price on the insurance provider’s stock. Desjardins’ price target suggests a potential upside of 45.29% from the company’s previous close.
Several other analysts have also issued reports on L. Zacks Investment Research lowered Loews from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. ValuEngine lowered Loews from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Loews presently has an average rating of “Hold” and an average price target of $56.00.
Shares of Loews (L) traded down $0.80 on Tuesday, hitting $52.31. The company’s stock had a trading volume of 715,993 shares, compared to its average volume of 1,129,504. The company has a market capitalization of $17,996.30, a price-to-earnings ratio of 18.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.35 and a current ratio of 0.35. Loews has a 52-week low of $45.01 and a 52-week high of $53.59.
In related news, VP Mark S. Schwartz sold 6,489 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $50.25, for a total transaction of $326,072.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard Waldo Scott sold 6,471 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $49.80, for a total value of $322,255.80. Following the sale, the senior vice president now owns 11,250 shares in the company, valued at $560,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,228 shares of company stock worth $1,361,713. 11.80% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. increased its stake in Loews by 29.2% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 2,212 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Loews by 6.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,240 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 140 shares in the last quarter. Focused Wealth Management Inc boosted its holdings in shares of Loews by 475.0% in the 4th quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 1,900 shares in the last quarter. M&R Capital Management Inc. purchased a new position in shares of Loews in the 2nd quarter worth about $106,000. Finally, Financial Architects Inc boosted its holdings in shares of Loews by 119.3% in the 2nd quarter. Financial Architects Inc now owns 2,621 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 1,426 shares in the last quarter. Institutional investors own 59.32% of the company’s stock.
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Loews 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.
