Loews (NYSE:L) Downgraded to Buy Rating by StockNews.com

Loews (NYSE:L - Get Free Report) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "buy" rating in a note issued to investors on Wednesday.

A number of other brokerages have also recently issued reports on L. Royal Bank of Canada raised shares of Loews to a "moderate buy" rating in a report on Friday, July 26th. Jefferies Financial Group dropped their price target on Loews from $115.00 to $112.00 and set a "buy" rating for the company in a report on Wednesday, July 31st.

Loews Stock Up 0.4 %

L stock traded up $0.37 during trading hours on Wednesday, reaching $84.49. 546,411 shares of the stock were exchanged, compared to its average volume of 713,175. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 11.17 and a beta of 0.82. The firm's 50-day moving average is $80.01 and its 200-day moving average is $78.24. Loews has a 12 month low of $67.20 and a 12 month high of $84.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Insider Transactions at Loews

In related news, Director Ann E. Berman sold 1,087 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the transaction, the director now directly owns 4,998 shares of the company's stock, valued at approximately $406,737.24. This represents a 17.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares of the company's stock, valued at $37,751,338.90. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,587 shares of company stock worth $17,586,460. Company insiders own 18.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of L. UniSuper Management Pty Ltd increased its position in shares of Loews by 487.5% during the first quarter. UniSuper Management Pty Ltd now owns 14,483 shares of the insurance provider's stock valued at $1,134,000 after acquiring an additional 12,018 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Loews by 453.9% during the 1st quarter. Bessemer Group Inc. now owns 18,429 shares of the insurance provider's stock worth $1,443,000 after purchasing an additional 15,102 shares during the period. Toronto Dominion Bank raised its stake in shares of Loews by 0.4% during the 1st quarter. Toronto Dominion Bank now owns 126,561 shares of the insurance provider's stock worth $9,908,000 after purchasing an additional 450 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Loews by 9.5% in the 1st quarter. 1832 Asset Management L.P. now owns 26,911 shares of the insurance provider's stock worth $2,107,000 after buying an additional 2,326 shares during the last quarter. Finally, Magnetar Financial LLC bought a new position in Loews during the first quarter valued at about $4,449,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

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.