Loews (L) Stock Price Down 6.1% Following Weak Earnings

Loews Co. (NYSE:L)’s share price fell 6.1% during mid-day trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $44.17 and last traded at $44.56. 3,565,791 shares changed hands during trading, an increase of 231% from the average session volume of 1,078,768 shares. The stock had previously closed at $47.47.

The insurance provider reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($1.06). Loews had a net margin of 8.94% and a return on equity of 4.75%. During the same period in the prior year, the business earned $0.81 EPS.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Loews from a “hold” rating to a “sell” rating in a research report on Thursday, January 17th. Raymond James reaffirmed a “buy” rating and issued a $66.00 price target on shares of Loews in a research report on Wednesday, November 14th. Finally, CIBC reaffirmed an “average” rating and issued a $70.00 price target on shares of Loews in a research report on Thursday, November 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.94.



In other news, Director Charles M. Diker sold 664 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $48.48, for a total value of $32,190.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew H. Tisch sold 22,916 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $45.10, for a total value of $1,033,511.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,653 shares of company stock worth $1,891,638. 12.30% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Focused Wealth Management Inc grew its position in Loews by 21.1% during the fourth quarter. Focused Wealth Management Inc now owns 2,300 shares of the insurance provider’s stock worth $105,000 after buying an additional 400 shares in the last quarter. Foundation Resource Management Inc. grew its position in Loews by 0.3% during the fourth quarter. Foundation Resource Management Inc. now owns 167,635 shares of the insurance provider’s stock worth $7,631,000 after buying an additional 492 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in Loews by 2.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 23,531 shares of the insurance provider’s stock worth $1,071,000 after buying an additional 495 shares in the last quarter. M&T Bank Corp grew its position in Loews by 2.1% during the fourth quarter. M&T Bank Corp now owns 26,124 shares of the insurance provider’s stock worth $1,189,000 after buying an additional 535 shares in the last quarter. Finally, Visionary Asset Management Inc. grew its position in Loews by 7.5% during the fourth quarter. Visionary Asset Management Inc. now owns 7,821 shares of the insurance provider’s stock worth $356,000 after buying an additional 543 shares in the last quarter. 64.24% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.33. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 15.58 and a beta of 0.64.

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Loews Company Profile (NYSE:L)

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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