Deutsche Bank AG Sells 110,584 Shares of Loews Co. (NYSE:L)

Deutsche Bank AG reduced its stake in shares of Loews Co. (NYSE:L - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 855,359 shares of the insurance provider's stock after selling 110,584 shares during the period. Deutsche Bank AG owned 0.39% of Loews worth $72,440,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Halbert Hargrove Global Advisors LLC acquired a new stake in Loews in the fourth quarter valued at approximately $26,000. Itau Unibanco Holding S.A. lifted its stake in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after purchasing an additional 345 shares during the last quarter. Human Investing LLC acquired a new stake in shares of Loews in the 4th quarter valued at $51,000. Graney & King LLC bought a new stake in Loews in the fourth quarter worth $56,000. Finally, Intact Investment Management Inc. acquired a new position in Loews during the fourth quarter worth $68,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

Loews Stock Performance

Loews stock traded up $0.56 during trading hours on Friday, reaching $89.37. 692,951 shares of the company were exchanged, compared to its average volume of 730,080. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42. The firm has a market cap of $18.74 billion, a price-to-earnings ratio of 13.96 and a beta of 0.70. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $86.87 and a 200 day moving average of $85.15.

Loews (NYSE:L - Get Free Report) last posted its earnings results on Monday, May 5th. The insurance provider reported $1.74 earnings per share (EPS) for the quarter. The business had revenue of $4.49 billion for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.28%. Loews's payout ratio is presently 4.11%.

Insider Transactions at Loews

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president now directly owns 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the completion of the sale, the director now owns 6,705,529 shares of the company's stock, valued at approximately $569,165,301.52. The trade was a 0.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 156,655 shares of company stock worth $13,323,294. Company insiders own 19.00% of the company's stock.

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.