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

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

Loews Price Performance

Shares of L opened at $82.97 on Tuesday. The firm has a 50-day simple moving average of $84.65 and a two-hundred day simple moving average of $81.93. The stock has a market cap of $18.07 billion, a PE ratio of 11.02 and a beta of 0.83. Loews has a 1-year low of $72.50 and a 1-year 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.

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

Insider Buying and Selling at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares of the company’s stock, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,370 shares of company stock valued at $5,218,627 in the last 90 days. Company insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On Loews

Large investors have recently bought and sold shares of the stock. ExodusPoint Capital Management LP acquired a new position in shares of Loews in the 4th quarter valued at $4,264,000. Bryce Point Capital LLC acquired a new position in Loews in the 4th quarter valued at about $1,486,000. Meeder Advisory Services Inc. raised its stake in Loews by 39.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 6,501 shares of the insurance provider’s stock valued at $551,000 after acquiring an additional 1,853 shares during the last quarter. Geode Capital Management LLC lifted its position in Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider’s stock worth $378,087,000 after acquiring an additional 210,594 shares during the period. Finally, Allstate Corp purchased a new position in shares of Loews in the 4th quarter valued at approximately $785,000. 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.