Lee Danner & Bass Inc. Sells 11,589 Shares of Loews Corporation (NYSE:L)

Lee Danner & Bass Inc. decreased its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,145 shares of the insurance provider's stock after selling 11,589 shares during the period. Loews comprises 1.2% of Lee Danner & Bass Inc.'s portfolio, making the stock its 19th biggest holding. Lee Danner & Bass Inc. owned about 0.08% of Loews worth $14,719,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Loews during the 4th quarter worth approximately $623,493,000. Geode Capital Management LLC raised its stake in Loews by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock worth $378,087,000 after acquiring an additional 210,594 shares in the last quarter. Invesco Ltd. raised its stake in Loews by 0.8% during the fourth quarter. Invesco Ltd. now owns 4,462,387 shares of the insurance provider's stock worth $377,920,000 after acquiring an additional 33,428 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Loews by 2.6% during the fourth quarter. Northern Trust Corp now owns 2,097,608 shares of the insurance provider's stock valued at $177,646,000 after acquiring an additional 53,625 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Loews by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider's stock valued at $137,477,000 after purchasing an additional 11,540 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president owned 33,901 shares of the company's stock, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Loews Price Performance

Shares of NYSE:L traded up $1.05 during trading on Friday, reaching $92.39. The stock had a trading volume of 500,770 shares, compared to its average volume of 733,268. The stock has a market capitalization of $19.37 billion, a PE ratio of 15.17 and a beta of 0.70. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 52 week low of $73.85 and a 52 week high of $92.60. The business's 50-day moving average price is $88.78 and its 200 day moving average price is $86.56.

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

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.0625 dividend. The ex-dividend date 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 presently 4.11%.

Loews 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.