Loews Co. (NYSE:L) VP Marc A. Alpert sold 1,626 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $49.26, for a total transaction of $80,096.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NYSE:L opened at $50.03 on Thursday. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 17.62 and a beta of 0.67. The firm has a fifty day moving average price of $50.25 and a 200 day moving average price of $50.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.34 and a current ratio of 0.34. Loews Co. has a fifty-two week low of $42.06 and a fifty-two week high of $56.20.
Loews (NYSE:L) last released its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.07. The company had revenue of $3.62 billion for the quarter. Loews had a net margin of 5.30% and a return on equity of 4.72%. During the same period in the previous year, the company earned $0.76 EPS. As a group, research analysts predict that Loews Co. will post 3.35 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in L. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Loews by 8.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 88,564 shares of the insurance provider’s stock valued at $4,842,000 after acquiring an additional 6,956 shares during the period. Boston Partners raised its stake in shares of Loews by 0.7% in the second quarter. Boston Partners now owns 4,868,502 shares of the insurance provider’s stock valued at $266,175,000 after acquiring an additional 35,049 shares during the period. BlackRock Inc. raised its stake in shares of Loews by 3.8% in the second quarter. BlackRock Inc. now owns 19,005,207 shares of the insurance provider’s stock valued at $1,039,014,000 after acquiring an additional 700,123 shares during the period. Barings LLC raised its stake in shares of Loews by 121.0% in the second quarter. Barings LLC now owns 20,637 shares of the insurance provider’s stock valued at $1,128,000 after acquiring an additional 11,300 shares during the period. Finally, Colony Group LLC raised its stake in shares of Loews by 299.2% in the second quarter. Colony Group LLC now owns 31,495 shares of the insurance provider’s stock valued at $1,722,000 after acquiring an additional 23,606 shares during the period. 62.11% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on L. Zacks Investment Research upgraded shares of Loews from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research report on Wednesday, August 28th. ValuEngine lowered shares of Loews from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.20.
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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