Leucadia National Corp. (NYSE:LUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
LUK has been the subject of several other research reports. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $22.00 price objective on shares of Leucadia National Corp. in a research note on Wednesday, June 22nd. TheStreet raised shares of Leucadia National Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th.
Shares of Leucadia National Corp. (NYSE:LUK) opened at 18.84 on Thursday. Leucadia National Corp. has a 12-month low of $14.27 and a 12-month high of $21.29. The stock’s market capitalization is $6.79 billion. The stock has a 50 day moving average of $18.92 and a 200 day moving average of $17.50.
Leucadia National Corp. (NYSE:LUK) last posted its quarterly earnings data 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 net margin of 2.95% and a negative return on equity of 2.61%. Equities research analysts anticipate that Leucadia National Corp. will post $0.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be issued a $0.0625 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.25 annualized dividend and a yield of 1.33%. Leucadia National Corp.’s dividend payout ratio (DPR) is -32.47%.
In other news, Director W Patrick Campbell bought 56,737 shares of Leucadia National Corp. stock in a transaction that occurred on Thursday, June 30th. The shares were purchased at an average price of $17.15 per share, with a total value of $973,039.55. Following the completion of the acquisition, the director now directly owns 107,920 shares in the company, valued at $1,850,828. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Joseph S. Steinberg sold 200,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 1,992,687 shares in the company, valued at approximately $37,940,760.48. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Leucadia National Corp. during the fourth quarter worth $42,612,000. Chevy Chase Trust Holdings Inc. boosted its stake in Leucadia National Corp. by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 281,200 shares of the company’s stock worth $4,547,000 after buying an additional 11,892 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Leucadia National Corp. by 25.6% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,178 shares of the company’s stock worth $1,022,000 after buying an additional 12,874 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in Leucadia National Corp. by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 81,142 shares of the company’s stock worth $1,312,000 after buying an additional 6,424 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in Leucadia National Corp. by 20.1% in the first quarter. Aperio Group LLC now owns 107,624 shares of the company’s stock worth $1,740,000 after buying an additional 18,032 shares during the last quarter. 73.14% of the stock is currently owned by hedge funds and other institutional investors.
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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