Loews Corporation (NYSE:L) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its holdings in Loews Corporation by 6.6%, now owning approximately 798,955 shares worth around $73.4 million.
• Loews Corporation announced a quarterly dividend of $0.0625, which will be paid on September 2nd, representing an annualized yield of 0.3%.
• Wall Street analysts have upgraded Loews from a "hold" rating to a "buy" rating, indicating positive expectations for the company's performance.

Deutsche Bank AG decreased its holdings in Loews Corporation (NYSE:L - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 798,955 shares of the insurance provider's stock after selling 56,404 shares during the quarter. Deutsche Bank AG owned approximately 0.38% of Loews worth $73,432,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in Loews during the first quarter valued at approximately $25,000. Minot DeBlois Advisors LLC acquired a new stake in Loews during the fourth quarter valued at approximately $27,000. Sierra Ocean LLC raised its stake in Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Loews by 387.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Loews during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Stock Up 0.6%

Shares of Loews stock opened at $93.78 on Monday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The business's 50 day simple moving average is $90.62 and its 200-day simple moving average is $87.89. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 14.91 and a beta of 0.69. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $94.62.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. The business had revenue of $4.56 billion for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.3%. The ex-dividend date is Wednesday, August 20th. Loews's dividend payout ratio (DPR) is currently 3.97%.

Wall Street Analysts Forecast Growth

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

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.

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