CIBC Reaffirms “Average” Rating for Loews (L)

Loews (NYSE:L)‘s stock had its “average” rating reaffirmed by research analysts at CIBC in a note issued to investors on Thursday. They currently have a $70.00 price target on the insurance provider’s stock. CIBC’s target price suggests a potential upside of 45.38% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Deutsche Bank lifted their price target on Loews from $51.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Raymond James restated a “buy” rating and issued a $66.00 price target on shares of Loews in a report on Wednesday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Loews has a consensus rating of “Hold” and an average target price of $58.45.

L stock traded up $0.66 during trading on Thursday, hitting $48.15. The stock had a trading volume of 951,700 shares, compared to its average volume of 1,355,313. Loews has a 1-year low of $44.78 and a 1-year high of $53.59. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 16.84 and a beta of 0.68. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.52.

Loews (NYSE:L) last announced its earnings results on Monday, November 5th. The insurance provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.10). Loews had a net margin of 8.94% and a return on equity of 4.75%. The firm had revenue of $3.61 billion during the quarter. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Loews will post 3.15 earnings per share for the current year.

In other Loews news, Director Ann E. Berman sold 2,216 shares of Loews stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $49.27, for a total value of $109,182.32. Following the completion of the sale, the director now owns 1,500 shares in the company, valued at approximately $73,905. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Loews by 2.0% in the 3rd quarter. BlackRock Inc. now owns 18,192,680 shares of the insurance provider’s stock worth $913,818,000 after acquiring an additional 357,382 shares during the period. Boston Partners boosted its holdings in Loews by 1.3% in the 2nd quarter. Boston Partners now owns 8,256,576 shares of the insurance provider’s stock worth $398,628,000 after acquiring an additional 109,345 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in Loews by 1.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,758,393 shares of the insurance provider’s stock worth $278,015,000 after acquiring an additional 54,226 shares during the period. Wells Fargo & Company MN boosted its holdings in Loews by 1.5% in the 3rd quarter. Wells Fargo & Company MN now owns 5,635,278 shares of the insurance provider’s stock worth $283,059,000 after acquiring an additional 84,254 shares during the period. Finally, Marathon Asset Management LLP boosted its holdings in Loews by 0.3% in the 2nd quarter. Marathon Asset Management LLP now owns 2,170,602 shares of the insurance provider’s stock worth $104,794,000 after acquiring an additional 7,308 shares during the period. Institutional investors and hedge funds own 62.48% of the company’s stock.

About Loews

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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Analyst Recommendations for Loews (NYSE:L)

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