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

Loews (NYSE:L) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Loews Stock Down 1.2 %

Shares of Loews stock traded down $1.06 during trading hours on Tuesday, hitting $84.88. The company had a trading volume of 654,803 shares, compared to its average volume of 674,133. The company’s 50-day moving average is $84.68 and its two-hundred day moving average is $81.89. Loews has a twelve month low of $72.50 and a twelve month high of $88.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $18.49 billion, a P/E ratio of 11.27 and a beta of 0.83.

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

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares in the company, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction dated 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. In the last quarter, insiders sold 62,370 shares of company stock worth $5,218,627. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in L. State Street Corp raised its position in shares of Loews by 1.0% in the third quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock valued at $638,506,000 after buying an additional 82,581 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Loews by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock valued at $336,005,000 after buying an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Loews by 0.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after buying an additional 8,750 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Loews by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock valued at $137,477,000 after buying an additional 11,540 shares during the last quarter. Finally, Boston Partners raised its position in shares of Loews by 16.9% in the fourth quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after buying an additional 217,115 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

About Loews

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.