Danske Bank A S Sells 343,001 Shares of Loews Corporation $L

Key Points

• Danske Bank A S trimmed its stake by 96.4% in the 4th quarter, selling 343,001 shares and leaving a holding of 12,852 shares valued at $1.353 million.
• Insiders sold 105,417 shares worth $11.55 million in the last quarter (including sales by a director and the VP); company insiders now own 19% of Loews.
• Loews reported $1.63 EPS and $4.56 billion in revenue for the quarter, has a market cap of $21.86 billion and a P/E of 13.5, and pays a quarterly dividend of $0.0625 (annualized yield ~0.2%).

Danske Bank A S trimmed its stake in Loews Corporation (NYSE:L - Free Report) by 96.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,852 shares of the insurance provider's stock after selling 343,001 shares during the period. Danske Bank A S's holdings in Loews were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Mutual Advisors LLC raised its position in shares of Loews by 6.0% during the 4th quarter. Mutual Advisors LLC now owns 3,242 shares of the insurance provider's stock valued at $341,000 after buying an additional 184 shares in the last quarter. Activest Wealth Management raised its position in Loews by 888.6% during the fourth quarter. Activest Wealth Management now owns 435 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 391 shares in the last quarter. United Community Bank raised its position in Loews by 9.6% during the fourth quarter. United Community Bank now owns 2,971 shares of the insurance provider's stock valued at $313,000 after purchasing an additional 260 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in Loews by 3.2% during the fourth quarter. Wealthfront Advisers LLC now owns 55,188 shares of the insurance provider's stock worth $5,812,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Loews in the 4th quarter worth about $36,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "buy (a-)" rating on shares of Loews in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Strong Buy".

Loews Price Performance

L stock opened at $106.24 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a 52 week low of $85.70 and a 52 week high of $114.90. The firm's fifty day moving average is $109.04 and its 200 day moving average is $106.19. The firm has a market cap of $21.86 billion, a P/E ratio of 13.50 and a beta of 0.56.

Loews (NYSE:L - Get Free Report) last released its earnings results 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 8.56%. The company had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were issued a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. Loews's dividend payout ratio (DPR) is currently 3.13%.

Insider Buying and Selling at Loews

In other Loews news, Director Ann E. Berman sold 1,922 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the sale, the director owned 4,998 shares of the company's stock, valued at $550,579.68. This represents a 27.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $109.87, for a total transaction of $383,995.65. Following the sale, the vice president directly owned 16,325 shares of the company's stock, valued at $1,793,627.75. The trade was a 17.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 105,417 shares of company stock valued at $11,549,723 in the last quarter. Company insiders own 19.00% of the company's stock.

Loews Company Profile

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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