Published On: Fri, Sep 23rd, 2016

Leucadia National Corp. (LUK) Rating Increased to Hold at Zacks Investment Research

Leucadia National Corp. (NYSE:LUK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 a number of other reports. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $22.00 price target on shares of Leucadia National Corp. in a research report on Wednesday, June 22nd. TheStreet upgraded Leucadia National Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th.

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Leucadia National Corp. (NYSE:LUK) traded down 0.42% during mid-day trading on Thursday, hitting $19.07. 1,161,529 shares of the stock were exchanged. The stock has a 50 day moving average of $18.92 and a 200-day moving average of $17.48. The stock’s market cap is $6.87 billion. Leucadia National Corp. has a 52-week low of $14.27 and a 52-week high of $21.29.
Leucadia National Corp. (NYSE:LUK) last posted its earnings results on Wednesday, August 3rd. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts predict that Leucadia National Corp. will post $0.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be given a $0.0625 dividend. The ex-dividend date 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 is presently -32.47%.
In other Leucadia National Corp. news, Director W Patrick Campbell bought 56,737 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was acquired at an average cost of $17.15 per share, for a total transaction of $973,039.55. Following the completion of the transaction, the director now owns 107,920 shares in the company, valued at $1,850,828. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Joseph S. Steinberg sold 200,000 shares of Leucadia National Corp. stock in a transaction 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 sale, the chairman now owns 1,992,687 shares of the company’s stock, valued at $37,940,760.48. The disclosure for this sale can be found here. 9.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Leucadia National Corp. during the second quarter valued at $233,000. Kentucky Retirement Systems acquired a new stake in Leucadia National Corp. during the second quarter valued at $491,000. Mason Street Advisors LLC acquired a new stake in Leucadia National Corp. during the second quarter valued at $778,000. Royal Bank of Canada increased its stake in Leucadia National Corp. by 0.7% in the second quarter. Royal Bank of Canada now owns 762,012 shares of the company’s stock valued at $13,205,000 after buying an additional 5,268 shares during the period. Finally, Cove Street Capital LLC increased its stake in Leucadia National Corp. by 1.6% in the second quarter. Cove Street Capital LLC now owns 690,459 shares of the company’s stock valued at $11,966,000 after buying an additional 10,700 shares during the period. Institutional investors and hedge funds 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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