Deutsche Bank AG Invests $69.53 Million in Loews Corporation $L

Key Points

• Deutsche Bank acquired 614,160 Loews shares during the second quarter, a position valued at approximately $69.53 million and representing about 0.30% of the company.
• Loews reported quarterly revenue of $4.73 billion and earnings of $2.16 per share. The company declared a quarterly dividend of $0.0625 per share, equivalent to a 0.2% annualized yield.
• Institutional investors own 58.33% of Loews, while insiders hold 19%. Weiss Ratings upgraded the stock to “buy (a-),” and the company’s sole tracked analyst rates it a Strong Buy.

Deutsche Bank AG acquired a new position in shares of Loews Corporation (NYSE:L - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 614,160 shares of the insurance provider's stock, valued at approximately $69,529,000. Deutsche Bank AG owned about 0.30% of Loews at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of L. NewEdge Advisors LLC increased its position in shares of Loews by 2.3% during the first quarter. NewEdge Advisors LLC now owns 4,168 shares of the insurance provider's stock valued at $445,000 after acquiring an additional 95 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Loews by 3.9% in the 1st quarter. Lido Advisors LLC now owns 2,594 shares of the insurance provider's stock worth $277,000 after acquiring an additional 97 shares during the last quarter. Hancock Whitney Corp boosted its position in shares of Loews by 3.9% during the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider's stock worth $263,000 after purchasing an additional 98 shares during the period. IFM Investors Pty Ltd boosted its position in shares of Loews by 0.3% during the 4th quarter. IFM Investors Pty Ltd now owns 31,867 shares of the insurance provider's stock worth $3,356,000 after purchasing an additional 100 shares during the period. Finally, Independent Advisor Alliance increased its holdings in Loews by 4.3% in the 4th quarter. Independent Advisor Alliance now owns 2,603 shares of the insurance provider's stock valued at $274,000 after purchasing an additional 107 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Stock Performance

NYSE:L opened at $110.73 on Friday. The company has a fifty day simple moving average of $113.70 and a two-hundred day simple moving average of $110.18. The company has a market cap of $22.64 billion, a price-to-earnings ratio of 13.57 and a beta of 0.52. 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 Corporation has a 52 week low of $95.10 and a 52 week high of $121.01.

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

Loews Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Dino Robusto acquired 5,000 shares of the company's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director owned 10,235 shares in the company, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.00% of the stock is owned by company insiders.

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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