Zacks Investment Research upgraded shares of Leucadia National Corp. (NYSE:LUK) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $21.00 price objective on the stock.
According to Zacks, “LEUCADIA NATL is a diversified financial services holding company principally engaged in personal and commercial lines of property and casualty insurance, life insurance, banking and lending and manufacturing. The Company concentrates on return on investment and cash flow to build long-term shareholder value, rather than emphasizing volume or market share. Additionally, the Company continuously evaluates the retention and disposition of its existing operations and investigates possible acquisitions of new businesses in order to maximize shareholder value. “
Other analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Leucadia National Corp. from a sell rating to a hold rating in a research note on Wednesday, August 10th. Oppenheimer Holdings Inc. increased their price target on shares of Leucadia National Corp. from $22.00 to $23.00 and gave the company an outperform rating in a research note on Friday, August 5th.
Shares of Leucadia National Corp. (NYSE:LUK) opened at 19.66 on Wednesday. Leucadia National Corp. has a 12 month low of $14.27 and a 12 month high of $21.20. The stock’s 50 day moving average is $18.98 and its 200 day moving average is $17.75. The firm’s market capitalization is $7.09 billion.
Leucadia National Corp. (NYSE:LUK) last announced its earnings results on Wednesday, August 3rd. The company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.10. Leucadia National Corp. had a negative return on equity of 2.61% and a negative net margin of 2.95%. Equities research analysts forecast that Leucadia National Corp. will post $0.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, September 15th. Leucadia National Corp.’s dividend payout ratio is currently -32.47%.
In other news, Chairman Joseph S. Steinberg sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $19.04, for a total transaction of $3,808,000.00. Following the completion of the sale, the chairman now owns 1,992,687 shares in the company, valued at approximately $37,940,760.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.50% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Credit Agricole S A boosted its stake in Leucadia National Corp. by 4.6% in the first quarter. Credit Agricole S A now owns 44,289 shares of the company’s stock worth $717,000 after buying an additional 1,933 shares in the last quarter. Investec Asset Management LTD boosted its stake in Leucadia National Corp. by 198.6% in the first quarter. Investec Asset Management LTD now owns 1,991,945 shares of the company’s stock worth $32,210,000 after buying an additional 1,324,745 shares in the last quarter. Landscape Capital Management L.L.C. boosted its stake in Leucadia National Corp. by 118.8% in the first quarter. Landscape Capital Management L.L.C. now owns 60,300 shares of the company’s stock worth $975,000 after buying an additional 32,735 shares in the last quarter. Shufro Rose & Co. LLC bought a new stake in Leucadia National Corp. during the first quarter worth about $418,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in Leucadia National Corp. during the first quarter worth about $2,091,000. Institutional investors own 73.14% of the company’s stock.
Leucadia National Corp. Company Profile
Leucadia National Corporation (Leucadia) is a diversified holding company focused on return on investment and long-term value creation to maximize shareholder value. The Company’s financial services businesses include Jefferies Group LLC (investment banking and capital markets), Leucadia Asset Management (asset management), Berkadia (commercial mortgage banking and servicing), FXCM (a publicly traded company providing online foreign exchange trading), HomeFed Corporation (HomeFed) (a publicly traded real estate company) and Foursight Capital and Chrome Capital (vehicle finance).
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