Lee Danner & Bass Inc. Lowers Stock Holdings in Loews Corporation (NYSE:L)

Lee Danner & Bass Inc. trimmed its position in shares of Loews Corporation (NYSE:L - Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,145 shares of the insurance provider's stock after selling 11,589 shares during the period. Loews makes up about 1.2% of Lee Danner & Bass Inc.'s holdings, making the stock its 19th largest holding. Lee Danner & Bass Inc. owned about 0.08% of Loews worth $14,719,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in L. Wayfinding Financial LLC acquired a new stake in shares of Loews in the first quarter valued at $25,000. IFM Investors Pty Ltd increased its holdings in Loews by 7.2% in the first quarter. IFM Investors Pty Ltd now owns 36,149 shares of the insurance provider's stock valued at $3,322,000 after buying an additional 2,423 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Loews during the first quarter worth about $224,000. Novem Group grew its holdings in shares of Loews by 24.1% during the first quarter. Novem Group now owns 9,936 shares of the insurance provider's stock worth $913,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in shares of Loews during the first quarter worth about $329,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

Loews Stock Performance

Shares of L traded down $0.59 during mid-day trading on Wednesday, hitting $91.08. 913,255 shares of the company's stock were exchanged, compared to its average volume of 780,751. Loews Corporation has a fifty-two week low of $74.67 and a fifty-two week high of $92.85. The firm has a market capitalization of $19.10 billion, a P/E ratio of 14.96 and a beta of 0.70. The business's 50 day moving average is $88.99 and its two-hundred day moving average is $86.69. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.47.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.49 billion during the quarter.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. Loews's dividend payout ratio (DPR) is 4.11%.

Insider Buying and Selling at Loews

In other news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the completion of the transaction, the senior vice president directly owned 33,901 shares of the company's stock, valued at $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.70% of the stock is currently owned by company insiders.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.