Loews Co. (NYSE:L) has received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $64.50.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Loews from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays reiterated an “average” rating and issued a $72.00 price objective on shares of Loews in a report on Thursday, February 21st. Finally, Scotiabank reiterated an “average” rating and issued a $68.00 price objective on shares of Loews in a report on Friday, February 22nd.
Shares of NYSE:L traded up $0.14 on Friday, hitting $53.84. 44,169 shares of the company traded hands, compared to its average volume of 1,193,566. Loews has a 52 week low of $42.06 and a 52 week high of $53.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $16.44 billion, a PE ratio of 18.96 and a beta of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Wednesday, May 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.46%. The ex-dividend date is Tuesday, May 28th. Loews’s dividend payout ratio (DPR) is presently 8.80%.
In related news, SVP Richard Waldo Scott sold 4,591 shares of Loews stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $47.80, for a total transaction of $219,449.80. Following the sale, the senior vice president now owns 29,732 shares of the company’s stock, valued at approximately $1,421,189.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph L. Bower sold 812 shares of Loews stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $47.56, for a total value of $38,618.72. Following the sale, the director now directly owns 10,886 shares in the company, valued at approximately $517,738.16. The disclosure for this sale can be found here. Insiders have sold a total of 32,320 shares of company stock worth $1,665,411 in the last three months. 14.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of Loews during the 4th quarter valued at approximately $747,000. Quantamental Technologies LLC bought a new position in shares of Loews during the 4th quarter valued at approximately $203,000. Royal London Asset Management Ltd. increased its position in shares of Loews by 1.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 118,574 shares of the insurance provider’s stock valued at $5,325,000 after purchasing an additional 1,956 shares during the last quarter. Regentatlantic Capital LLC increased its position in shares of Loews by 17.5% during the 4th quarter. Regentatlantic Capital LLC now owns 10,347 shares of the insurance provider’s stock valued at $471,000 after purchasing an additional 1,538 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Loews by 73.7% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 156,691 shares of the insurance provider’s stock valued at $7,133,000 after purchasing an additional 66,500 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally. It operates through CNA Financial Corporation; Diamond Offshore Drilling, Inc; Boardwalk Pipeline Partners, LP; and Loews Hotels Holding Corporation segments. The company offers specialty insurance products, such as management and professional liability insurance coverages and products; surety and fidelity bonds; and warranty and alternative risk services.
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