Lee Danner & Bass Inc. Sells 4,144 Shares of Loews Co. (NYSE:L)

Lee Danner & Bass Inc. reduced its stake in Loews Co. (NYSE:L) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,257 shares of the insurance provider’s stock after selling 4,144 shares during the period. Loews makes up approximately 1.1% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 18th biggest position. Lee Danner & Bass Inc. owned about 0.08% of Loews worth $12,474,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. NBC Securities Inc. bought a new stake in Loews during the third quarter worth $29,000. Operose Advisors LLC bought a new stake in Loews during the third quarter worth $30,000. Desjardins Global Asset Management Inc. lifted its stake in Loews by 225.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 491 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 340 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Loews by 41.4% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the insurance provider’s stock worth $43,000 after buying an additional 179 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Loews during the third quarter worth $51,000. 58.33% of the stock is currently owned by institutional investors.

Insider Transactions at Loews

In related news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the transaction, the insider now owns 106,870 shares in the company, valued at approximately $7,685,021.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Loews news, insider Jonathan M. Tisch sold 4,287 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $71.91, for a total transaction of $308,278.17. Following the completion of the sale, the insider now owns 106,870 shares in the company, valued at approximately $7,685,021.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Waldo Scott sold 7,325 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $74.12, for a total transaction of $542,929.00. Following the sale, the senior vice president now owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,563 shares of company stock worth $10,052,551. Company insiders own 18.70% of the company’s stock.

Loews Price Performance

Shares of NYSE:L traded up $0.76 during trading on Monday, hitting $76.40. 196,420 shares of the company were exchanged, compared to its average volume of 755,056. The business’s 50 day moving average is $75.48 and its 200-day moving average is $70.91. The company has a market capitalization of $16.98 billion, a P/E ratio of 12.09 and a beta of 0.83. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.48. Loews Co. has a 1-year low of $55.31 and a 1-year high of $78.55.

Loews (NYSE:L) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.99 earnings per share for the quarter. The business had revenue of $4.26 billion during the quarter. Loews had a return on equity of 9.18% and a net margin of 9.02%.

Loews Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Wednesday, February 21st were given a $0.0625 dividend. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.33%. Loews’s dividend payout ratio (DPR) is currently 3.97%.

About Loews

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.