Loews Corporation $L Shares Bought by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. boosted its stake in shares of Loews Corporation (NYSE:L) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,958 shares of the insurance provider’s stock after buying an additional 31,500 shares during the quarter. Loews accounts for about 1.2% of Lee Danner & Bass Inc.’s holdings, making the stock its 19th biggest holding. Lee Danner & Bass Inc. owned approximately 0.08% of Loews worth $18,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in L. DV Equities LLC purchased a new stake in shares of Loews in the 4th quarter valued at approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in shares of Loews during the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC acquired a new stake in Loews in the 4th quarter valued at approximately $30,000. Private Trust Co. NA increased its holdings in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the third quarter valued at approximately $30,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Loews

In related news, Director Dino Robusto acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the transaction, the director owned 10,235 shares of the company’s stock, valued at $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

Loews Stock Down 0.1%

Shares of NYSE:L opened at $116.46 on Friday. The firm has a market capitalization of $23.96 billion, a PE ratio of 14.80 and a beta of 0.52. Loews Corporation has a 1 year low of $89.32 and a 1 year high of $116.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.36 and a quick ratio of 0.36. The firm’s 50-day moving average is $108.43 and its two-hundred day moving average is $107.70.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The business had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is currently 3.18%.

About Loews

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.