Loews (L) Rating Reiterated by Raymond James

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Raymond James reiterated their buy rating on shares of Loews (NYSE:L) in a research note issued to investors on Wednesday. They currently have a $66.00 price target on the insurance provider’s stock.

Separately, Deutsche Bank lifted their price target on Loews from $51.00 to $54.00 and gave the company a hold rating in a report on Wednesday, August 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $58.45.

Shares of L traded up $0.35 during mid-day trading on Wednesday, reaching $48.50. 1,032,920 shares of the company’s stock traded hands, compared to its average volume of 1,399,372. The stock has a market cap of $14.92 billion, a PE ratio of 16.96 and a beta of 0.68. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52. Loews has a 12 month low of $44.78 and a 12 month high of $53.59.

Loews (NYSE:L) last released its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.10). The business had revenue of $3.61 billion for the quarter. Loews had a net margin of 8.94% and a return on equity of 4.75%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, analysts forecast that Loews will post 3.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Wednesday, November 28th will be issued a dividend of $0.0625 per share. The ex-dividend date is Tuesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.52%. Loews’s dividend payout ratio (DPR) is presently 8.74%.

In other news, Director Ann E. Berman sold 2,216 shares of Loews stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total transaction of $109,182.32. Following the sale, the director now owns 1,500 shares of the company’s stock, valued at $73,905. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Loews by 2.0% during the third quarter. BlackRock Inc. now owns 18,192,680 shares of the insurance provider’s stock worth $913,818,000 after purchasing an additional 357,382 shares in the last quarter. Boston Partners raised its holdings in Loews by 1.3% during the second quarter. Boston Partners now owns 8,256,576 shares of the insurance provider’s stock worth $398,628,000 after purchasing an additional 109,345 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Loews by 1.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,758,393 shares of the insurance provider’s stock worth $278,015,000 after purchasing an additional 54,226 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Loews by 1.5% during the third quarter. Wells Fargo & Company MN now owns 5,635,278 shares of the insurance provider’s stock worth $283,059,000 after purchasing an additional 84,254 shares in the last quarter. Finally, Marathon Asset Management LLP raised its holdings in Loews by 0.3% during the second quarter. Marathon Asset Management LLP now owns 2,170,602 shares of the insurance provider’s stock worth $104,794,000 after purchasing an additional 7,308 shares in the last quarter. 62.48% of the stock is currently owned by hedge funds and other institutional investors.

Loews Company Profile

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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Analyst Recommendations for Loews (NYSE:L)

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