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Loews Corporation (L), headquartered in New York City, is a diversified holding company with a strong presence across various industries, including insurance, energy, hospitality, and packaging. With a market cap of $18.6 billion, Loews leverages its operational expertise and financial strength to deliver value to its shareholders.
Companies with a market value of $10 billion or more are classified as “large-cap stocks,” and Loews belongs to this category. The company’s diversified approach, financial discipline, and focus on sustainability underscore its dedication to delivering exceptional value to shareholders while addressing the evolving needs of its businesses and stakeholders globally.
Shares of the commercial property and casualty insurance company are trading 2.5% below their 52-week high of $87.45, hit on Nov. 27. The stock has gained 8.4% over the past three months, outperforming the SPDR S&P Insurance ETF (KIE), which has gained 1.6% over the same time frame.
Over the past six months, L stock rose 13.9%, underperforming KIE's 15.3% gain. Similarly, over the last 52 weeks, L's 23.6% growth trails KIE's 27.6% rally.
Yet, Loews has consistently traded above its 200-day moving average over the past year and above its 50-day moving average since July, with some fluctuations.
Loews’ shares declined 3.3% following its Q3 earnings report on Nov. 4. However, The company reported strong results, with net income rising 62.5% year over year to $401 million, or $1.82 per share. The improvement was partly driven by CNA Financial Corporation, which saw a 10% increase in net income attributable to Loews, reaching $259 million, aided by higher net investment income that offset increased catastrophe losses.
Loews’ competitor, The Progressive Corporation (PGR), has outperformed L, gaining 54.5% over the past year.
Analysts are cautiously optimistic about Loews. L stock has a “Moderate Buy” rating from the one analyst covering the stock. It has a mean price target of $217, which implies a significant potential upside of 154.5% from its current price.
