13,652 Shares in Loews Corporation $L Bought by Danske Bank A S

Danske Bank A S acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,652 shares of the insurance provider's stock, valued at approximately $1,546,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new stake in shares of Loews during the second quarter worth about $6,884,000. First National Bank of Omaha purchased a new position in Loews in the 2nd quarter valued at about $216,000. Meeder Advisory Services Inc. purchased a new position in Loews in the 2nd quarter valued at about $670,000. Citizens Financial Group Inc. RI purchased a new position in Loews in the 2nd quarter valued at about $210,000. Finally, Buckland Partners Management Co LLC acquired a new stake in Loews in the 2nd quarter worth about $2,717,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Trading Down 0.8%

Shares of L opened at $109.85 on Friday. Loews Corporation has a 52-week low of $95.10 and a 52-week high of $121.01. The stock has a market cap of $22.46 billion, a PE ratio of 13.46 and a beta of 0.52. The firm's fifty day moving average is $113.74 and its two-hundred day moving average is $110.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.44.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, August 3rd. The insurance provider reported $2.16 EPS for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.02% and a return on equity of 8.60%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Loews's dividend payout ratio is currently 3.06%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Loews from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Insider Transactions at Loews

In other Loews news, Director Dino Robusto acquired 5,000 shares of the business's stock in a transaction on Friday, May 29th. The stock was bought at an average price of $104.74 per share, for a total transaction of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.00% of the company's stock.

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.

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