Loews Corporation $L Shares Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. boosted its holdings in Loews Corporation (NYSE:L) by 22.1% in the first quarter, HoldingsChannel.com reports. The firm owned 173,958 shares of the insurance provider’s stock after buying an additional 31,500 shares during the quarter. Loews comprises about 1.2% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 19th largest holding. Lee Danner & Bass Inc.’s holdings in Loews were worth $18,568,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Loews by 22.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,575 shares of the insurance provider’s stock worth $329,000 after buying an additional 658 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Loews by 9.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,937 shares of the insurance provider’s stock valued at $2,108,000 after buying an additional 2,057 shares during the last quarter. Empowered Funds LLC raised its stake in Loews by 12.2% during the 1st quarter. Empowered Funds LLC now owns 3,807 shares of the insurance provider’s stock worth $350,000 after acquiring an additional 414 shares in the last quarter. Woodline Partners LP raised its stake in Loews by 37.5% during the 1st quarter. Woodline Partners LP now owns 14,926 shares of the insurance provider’s stock worth $1,372,000 after acquiring an additional 4,071 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Loews by 53.5% in the second quarter. Cetera Investment Advisers now owns 7,156 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 2,493 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Loews news, Director Dino Robusto acquired 5,000 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Loews in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Loews Trading Down 0.1%

L opened at $116.46 on Friday. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 14.80 and a beta of 0.52. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $116.58. The business’s 50 day moving average is $108.43 and its two-hundred day moving average is $107.70. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The business had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s dividend payout ratio is currently 3.18%.

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.