Jane Street Group LLC Decreases Stock Holdings in Loews Co. (NYSE:L)

Jane Street Group LLC decreased its holdings in shares of Loews Co. (NYSE:L) by 57.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,659 shares of the insurance provider’s stock after selling 60,167 shares during the quarter. Jane Street Group LLC’s holdings in Loews were worth $3,782,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of L. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Loews in the fourth quarter valued at $26,000. Human Investing LLC purchased a new stake in shares of Loews in the fourth quarter valued at $51,000. Graney & King LLC purchased a new stake in shares of Loews in the fourth quarter valued at $56,000. Intact Investment Management Inc. purchased a new stake in shares of Loews in the fourth quarter valued at $68,000. Finally, Assetmark Inc. raised its stake in shares of Loews by 117.2% in the fourth quarter. Assetmark Inc. now owns 832 shares of the insurance provider’s stock valued at $70,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Insiders Place Their Bets

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the transaction, the senior vice president now directly owns 33,901 shares in the company, valued at $2,980,575.92. This represents a 21.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $84.66, for a total transaction of $4,233,000.00. Following the transaction, the director now owns 6,755,529 shares in the company, valued at approximately $571,923,085.14. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,655 shares of company stock worth $13,323,294 in the last three months. Corporate insiders own 19.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Loews Trading Up 0.5%

NYSE L opened at $88.38 on Monday. The company’s 50-day moving average price is $86.60 and its 200-day moving average price is $84.99. 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 market cap of $18.53 billion, a PE ratio of 13.81 and a beta of 0.70. Loews Co. has a 12 month low of $73.15 and a 12 month high of $92.42.

Loews (NYSE:L) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.74 EPS for the quarter. The firm 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 announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews’s payout ratio is 4.11%.

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.