Oppenheimer Holdings Inc. Increases Leucadia National Corp. (LUK) Price Target to $28.00
Leucadia National Corp. (NYSE:LUK) had its price objective hoisted by Oppenheimer Holdings Inc. from $23.00 to $28.00 in a note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. Oppenheimer Holdings Inc.’s target price would indicate a potential upside of 27.16% from the company’s previous close.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research raised Leucadia National Corp. from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, October 5th. TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th.
Leucadia National Corp. (NYSE:LUK) traded up 3.23% during trading on Wednesday, reaching $22.02. The company’s stock had a trading volume of 2,419,206 shares. Leucadia National Corp. has a 1-year low of $14.27 and a 1-year high of $22.05. The stock has a market cap of $7.93 billion, a P/E ratio of 188.21 and a beta of 1.37. The company’s 50 day moving average price is $19.53 and its 200-day moving average price is $18.52.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Stockholders of record on Wednesday, December 14th will be paid a dividend of $0.0625 per share. The ex-dividend date is Monday, December 12th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.14%. Leucadia National Corp.’s dividend payout ratio (DPR) is currently 227.29%.
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In other news, Chairman Joseph S. Steinberg sold 200,000 shares of the stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $19.04, for a total transaction of $3,808,000.00. Following the transaction, the chairman now owns 1,992,687 shares in the company, valued at $37,940,760.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in LUK. Vanguard Group Inc. raised its position in Leucadia National Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 28,722,993 shares of the company’s stock worth $497,768,000 after buying an additional 668,282 shares during the period. First Pacific Advisors LLC raised its position in Leucadia National Corp. by 7.7% in the second quarter. First Pacific Advisors LLC now owns 22,520,090 shares of the company’s stock worth $390,273,000 after buying an additional 1,617,090 shares during the period. Price T Rowe Associates Inc. MD raised its position in Leucadia National Corp. by 11.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 14,261,603 shares of the company’s stock worth $271,541,000 after buying an additional 1,495,070 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Leucadia National Corp. by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,495,319 shares of the company’s stock worth $161,751,000 after buying an additional 31,296 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Leucadia National Corp. by 1.3% in the third quarter. Great West Life Assurance Co. Can now owns 6,035,822 shares of the company’s stock worth $114,750,000 after buying an additional 79,985 shares during the period. Institutional investors own 71.54% 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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