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

Lee Danner & Bass Inc. cut its stake in shares of Loews Co. (NYSE:L) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund 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 holdings, making the stock its 18th largest holding. Lee Danner & Bass Inc.’s holdings in Loews were worth $12,474,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Loews by 316.1% during the third quarter. Assenagon Asset Management S.A. now owns 580,107 shares of the insurance provider’s stock valued at $36,727,000 after buying an additional 440,693 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Loews by 118.9% during the third quarter. The Manufacturers Life Insurance Company now owns 286,708 shares of the insurance provider’s stock worth $18,151,000 after purchasing an additional 155,713 shares during the period. Barclays PLC raised its position in Loews by 34.9% during the third quarter. Barclays PLC now owns 577,591 shares of the insurance provider’s stock valued at $36,568,000 after acquiring an additional 149,500 shares in the last quarter. Bank of Nova Scotia raised its position in Loews by 115.4% during the third quarter. Bank of Nova Scotia now owns 270,421 shares of the insurance provider’s stock valued at $17,120,000 after acquiring an additional 144,902 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Loews by 3,984.2% in the third quarter. Jump Financial LLC now owns 146,910 shares of the insurance provider’s stock valued at $9,301,000 after buying an additional 143,313 shares in the last quarter. 58.33% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Richard Waldo Scott sold 7,325 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $74.12, for a total value of $542,929.00. Following the completion of the sale, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Loews news, SVP Richard Waldo Scott sold 7,325 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $74.12, for a total transaction of $542,929.00. Following the completion of the sale, the senior vice president now directly owns 51,965 shares of the company’s stock, valued at approximately $3,851,645.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Fribourg sold 951 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $75.02, for a total value of $71,344.02. Following the completion of the sale, the director now directly owns 21,200 shares of the company’s stock, valued at $1,590,424. 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. 18.70% of the stock is currently owned by insiders.

Loews Price Performance

Shares of Loews stock traded up $0.76 on Monday, reaching $76.40. The company’s stock had a trading volume of 196,420 shares, compared to its average volume of 755,056. 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 52-week low of $55.31 and a 52-week high of $78.55. The company has a market capitalization of $16.98 billion, a P/E ratio of 12.09 and a beta of 0.83. The stock has a 50-day moving average price of $75.48 and a 200-day moving average price of $70.91.

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

Loews Announces Dividend

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

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.