Growing Through Challenges? – Loews Corporation (L)

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JPMorgan Investment Management, I. recently announced the acquisition of new stake in Loews Corporation (NYSE:L). The institutional investor has increased its shareholding in the Financial company by 4.19% to 16.46 million shares with purchase of 0.66 million shares. This fresh investment now brings its stake to 5.85% valued currently at $564.31 million. In addition, Norges Bank Investment Management raised its holdings by 6.52 million to 13.57 million shares. And T. Rowe Price Associates, Inc. (I. has lifted its position by 9.02% or 1.1 million shares – to 13.26 million shares.

With over 0.6 million Loews Corporation (L) shares trading Tuesday and a closing price of $36.67 on the day, the dollar volume was approximately $22.12 million. The shares have shown a positive weekly performance of 2.62% and its price on 07/21/20 gained nearly 0.60%. Currently, there are 287.04M common shares owned by the public and among those 238.54M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for L have a consensus price objective of $52.00. The analysts have set the share’s price value over the next 12 months at a high of $52.00 and a low of $52.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Loews Corporation stock is 3.00 for the next 12 months. But an upside of 29.48% will see the stock hit the forecast high price target while mean target price for the stock is $52.00.

Insiders at the company have transacted a total of 142 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 425,143 shares. Insider sales of the common stock occurred on 80 occasions, with total insider shares sold totaling 467,997 shares.

The top 3 mutual fund holders in Loews Corporation are Government Pension Fund – Global, Vanguard Total Stock Market Index, and JPMorgan Mid Cap Value Fund. Government Pension Fund – Global owns 13.49 million shares of the company’s stock, all valued at over $462.42 million. The company bought an additional 6.46 million shares recently to bring their total holdings to about 4.79% of the shares outstanding. Vanguard Total Stock Market Index sold -0.45 million shares to see its total holdings shrink to 6.83 million shares valued at over $234.25 million and representing 2.43% of the shares outstanding. JPMorgan Mid Cap Value Fund now owns shares totaling to 2.17% of the shares outstanding.

Shares of Loews Corporation (NYSE: L) opened at $35.70, down -$0.75 from a prior closing price of $36.45. However, the script later closed the day at $36.67, up 0.60%. The company’s stock has a 5-day price change of 2.62% and 8.13% over the past three months. L shares are trading -30.56% year to date (YTD), with the 12-month market performance down to -32.44% lower. It has a 12-month low price of $27.33 and touched a high of $56.88 over the same period. Currently, 0.6 million shares have been traded, compared to an average intraday trading volume of 1.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.39%, 8.33%, and -14.86% respectively.

Institutional ownership of Loews Corporation (NYSE: L) shares accounts for 66.80% of the company’s 287.04M shares outstanding. Mutual fund holders own 36.87%, while other institutional holders and individual stakeholders account for 43.19% and 22.91% respectively.

It has a market capitalization of $10.28B and a beta (3y monthly) value of 0.76. The earnings-per-share (ttm) stands at -$0.41. The company has a debt-to-equity ratio at 0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.69% over the week and 3.17% over the month.

Analysts forecast that Loews Corporation (L) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.28 a year ago. EPS should grow at an annualized rate of 14.03% over the next five years, compared to 4.10% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Loews Corporation (L) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the L, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on November 02, 2016, with the firm’s price target at $42-$43. Deutsche Bank coverage for the Loews Corporation (L) stock in a research note released on August 06, 2015 offered a Hold rating with a price target of $44. Deutsche Bank was of a view on March 24, 2014 that the stock is Hold, while Deutsche Bank gave the stock Buy rating on September 04, 2013, issuing a price target of $52. Susquehanna Financial on their part issued Positive rating on June 23, 2009.

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