Loews (L) Lowered to “Hold” at Zacks Investment Research

Loews (NYSE:L) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Shares of Loews outperformed the industry in a year’s time. Loews Hotels remains on growth track as most properties witnessed higher income. CNA Financial remains focused to deliver solid results focusing on its core competency. The Boardwalk unit is poised to capitalize on rising exports of natural gas and pipeline exports to Mexico as well as industrial demand for natural gas and liquids. Addition of Consolidated Container cemented its network of manufacturing locations in the Unites States. With new drilling rigs contracted through 2019 and demand for oil growing, Loews remains optimistic about the medium and long-term progress. Loews’ shares have outperformed the industry year to date. However, weakening ultra-deepwater and deepwater markets might dampen Diamond Offshore results. It is set to release first quarter results on Apr 30. A Zacks Rank #3 combined with Earnings ESP of 0.00% makes prediction difficult.”

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Separately, Desjardins lowered Loews to a “hold” rating and set a $76.00 price objective for the company. in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.00.

L stock traded up $0.12 during midday trading on Tuesday, reaching $51.14. The stock had a trading volume of 385,203 shares, compared to its average volume of 1,533,465. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.46. The firm has a market cap of $16,582.66, a price-to-earnings ratio of 17.89 and a beta of 0.70. Loews has a twelve month low of $45.01 and a twelve month high of $53.59.

Loews (NYSE:L) last announced its quarterly earnings data on Monday, February 12th. The insurance provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.12. The firm had revenue of $3.56 billion during the quarter. Loews had a return on equity of 4.08% and a net margin of 8.47%. Loews’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 earnings per share. sell-side analysts predict that Loews will post 3.42 earnings per share for the current fiscal year.

In other Loews news, insider Jonathan M. Tisch sold 7,800 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $47.51, for a total transaction of $370,578.00. Following the transaction, the insider now owns 2,990,022 shares in the company, valued at $142,055,945.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kenneth I. Siegel sold 6,242 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $50.23, for a total value of $313,535.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,316 shares of company stock valued at $697,655. Corporate insiders own 12.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of L. Highbridge Capital Management LLC bought a new position in Loews during the third quarter worth about $239,000. GSA Capital Partners LLP bought a new position in shares of Loews during the 3rd quarter valued at about $335,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Loews by 5.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 588,583 shares of the insurance provider’s stock valued at $28,170,000 after purchasing an additional 30,973 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Loews by 5.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 105,752 shares of the insurance provider’s stock valued at $5,291,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Loews by 36.3% during the 4th quarter. Bank of Montreal Can now owns 200,690 shares of the insurance provider’s stock valued at $10,041,000 after purchasing an additional 53,495 shares in the last quarter. Hedge funds and other institutional investors own 64.19% of the company’s stock.

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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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