Loews (NYSE:L) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Loews (NYSE:L) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Loews Stock Down 1.2 %

Shares of L opened at $84.88 on Tuesday. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. The company has a 50-day moving average price of $84.68 and a two-hundred day moving average price of $81.89. Loews has a 12 month low of $72.50 and a 12 month high of $88.29. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 9.70% and a net margin of 9.71%.

Insider Buying and Selling at Loews

In other Loews news, Director Andrew H. Tisch sold 7,533 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the completion of the transaction, the director now directly owns 1,568,191 shares in the company, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,370 shares of company stock valued at $5,218,627. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of Loews by 345.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider’s stock valued at $25,114,000 after buying an additional 229,965 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Loews by 92.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,484 shares of the insurance provider’s stock valued at $37,745,000 after buying an additional 229,956 shares during the period. Boston Partners raised its position in Loews by 16.9% during the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock worth $126,983,000 after purchasing an additional 217,115 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Loews during the 4th quarter valued at approximately $12,727,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock valued at $44,992,000 after purchasing an additional 105,810 shares in the last quarter. 58.33% of the stock is owned by institutional investors.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.