Danske Bank A S Acquires Shares of 355,853 Loews Corporation $L

Danske Bank A S acquired a new position in shares of Loews Corporation (NYSE:L) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 355,853 shares of the insurance provider’s stock, valued at approximately $35,724,000. Danske Bank A S owned 0.17% of Loews at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of L. Caitong International Asset Management Co. Ltd acquired a new position in shares of Loews in the third quarter valued at about $66,000. Boyar Asset Management Inc. acquired a new stake in Loews in the 3rd quarter worth about $380,000. Tcfg Wealth Management LLC bought a new stake in Loews in the 3rd quarter valued at about $201,000. Hancock Whitney Corp boosted its holdings in Loews by 3.9% in the 3rd quarter. Hancock Whitney Corp now owns 2,618 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 98 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Loews by 43.2% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 446,639 shares of the insurance provider’s stock valued at $44,492,000 after purchasing an additional 134,777 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insider Activity

In other news, 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 transaction of $211,727.52. Following the completion of the sale, the director owned 4,998 shares of the company’s stock, valued at approximately $550,579.68. This represents a 27.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Marc A. Alpert sold 3,495 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $109.87, for a total transaction of $383,995.65. Following the sale, the vice president owned 16,325 shares in the company, valued at $1,793,627.75. This represents a 17.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 105,417 shares of company stock worth $11,549,723. 19.00% of the stock is currently owned by corporate insiders.

Loews Stock Performance

L opened at $106.08 on Thursday. The firm has a market cap of $21.86 billion, a P/E ratio of 13.29 and a beta of 0.60. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $114.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day moving average is $107.28 and its 200-day moving average is $103.91.

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

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 25th. Loews’s dividend payout ratio (DPR) is currently 3.13%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Loews Company 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.