Leucadia National Corp. (LUK) Upgraded to “Hold” at Zacks Investment Research
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. “
A number of other brokerages also recently weighed in on LUK. TheStreet upgraded Leucadia National Corp. from a sell rating to a hold rating in a report on Wednesday, August 10th. Oppenheimer Holdings Inc. lifted their target price on Leucadia National Corp. from $22.00 to $23.00 and gave the stock an outperform rating in a report on Friday, August 5th.
Shares of Leucadia National Corp. (NYSE:LUK) opened at 19.07 on Thursday. Leucadia National Corp. has a 52 week low of $14.27 and a 52 week high of $21.29. The stock’s 50 day moving average price is $18.92 and its 200-day moving average price is $17.48. The company’s market cap is $6.87 billion.
Leucadia National Corp. (NYSE:LUK) last issued its earnings results on Wednesday, August 3rd. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ 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%. Analysts expect that Leucadia National Corp. will post $0.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.25 dividend on an annualized basis and a yield of 1.31%. Leucadia National Corp.’s dividend payout ratio (DPR) is presently -32.47%.
In other Leucadia National Corp. news, Chairman Joseph S. Steinberg sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $19.04, for a total value of $3,808,000.00. Following the completion of the sale, the chairman now owns 1,992,687 shares of the company’s stock, valued at $37,940,760.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Patrick Campbell acquired 56,737 shares of Leucadia National Corp. stock in a transaction on Thursday, June 30th. The stock was purchased at an average cost of $17.15 per share, with a total value of $973,039.55. Following the purchase, the director now directly owns 107,920 shares of the company’s stock, valued at approximately $1,850,828. The disclosure for this purchase can be found here. 9.50% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in LUK. Daiwa Securities Group Inc. boosted its stake in shares of Leucadia National Corp. by 14.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $139,000 after buying an additional 1,000 shares during the period. First Allied Advisory Services Inc. boosted its stake in shares of Leucadia National Corp. by 1.5% in the second quarter. First Allied Advisory Services Inc. now owns 10,335 shares of the company’s stock worth $173,000 after buying an additional 150 shares during the period. Cedar Wealth Management LLC boosted its stake in shares of Leucadia National Corp. by 51.8% in the second quarter. Cedar Wealth Management LLC now owns 10,170 shares of the company’s stock worth $176,000 after buying an additional 3,470 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Leucadia National Corp. during the second quarter worth approximately $178,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Leucadia National Corp. during the second quarter worth approximately $182,000. 73.14% of the stock is 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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