Lee Danner & Bass Inc. Sells 13,931 Shares of Loews Corporation $L

Key Points

• Lee Danner & Bass Inc. reduced its stake in Loews by 8.9%, selling 13,931 shares and leaving 142,458 shares valued at about $15.0M, which equals roughly 1.1% of the firm's portfolio (its 19th largest holding).
• Insiders sold a total of 105,417 shares worth $11.55M last quarter — including Director Andrew H. Tisch's sale of 50,000 shares — while insiders still own 19% and institutional investors hold 58.33% of the stock.
• Loews has a market cap of $22.74B and a P/E of 13.85, reported Q4 EPS of $1.94 on $4.73B revenue, pays a modest annual dividend yield of 0.2%, and carries a consensus analyst rating of Strong Buy.

Lee Danner & Bass Inc. reduced its position in Loews Corporation (NYSE:L - Free Report) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,458 shares of the insurance provider's stock after selling 13,931 shares during the quarter. Loews accounts for approximately 1.1% of Lee Danner & Bass Inc.'s investment portfolio, making the stock its 19th largest holding. Lee Danner & Bass Inc. owned approximately 0.07% of Loews worth $15,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. UBS Group AG raised its holdings in shares of Loews by 4.8% in the fourth quarter. UBS Group AG now owns 811,194 shares of the insurance provider's stock valued at $85,427,000 after acquiring an additional 37,327 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Loews by 0.8% in the fourth quarter. Sanctuary Advisors LLC now owns 14,006 shares of the insurance provider's stock valued at $1,475,000 after acquiring an additional 115 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Loews by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider's stock valued at $2,045,759,000 after acquiring an additional 108,882 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Loews in the fourth quarter valued at about $488,000. Finally, Turtle Creek Wealth Advisors LLC grew its stake in Loews by 30.4% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 6,183 shares of the insurance provider's stock valued at $651,000 after purchasing an additional 1,443 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

L opened at $110.53 on Friday. The firm's 50-day moving average price is $108.88 and its 200-day moving average price is $105.84. The company has a market cap of $22.74 billion, a P/E ratio of 13.85 and a beta of 0.59. Loews Corporation has a 52-week low of $84.68 and a 52-week high of $114.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43.

Loews (NYSE:L - Get Free Report) last issued its earnings results on Monday, February 9th. The insurance provider reported $1.94 EPS for the quarter. The firm had revenue of $4.73 billion for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 25th were given a $0.0625 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio is currently 3.13%.

Insider Activity at Loews

In related news, Director Andrew H. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total value of $5,440,500.00. Following the sale, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann E. Berman sold 1,922 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the sale, the director owned 4,998 shares in the company, valued at approximately $550,579.68. This represents a 27.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 105,417 shares of company stock worth $11,549,723 over the last quarter. Insiders own 19.00% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "buy (a-)" rating on shares of Loews in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Loews presently has a consensus rating of "Strong Buy".

Loews 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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