Loews Co. (NYSE:L) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in shares of Loews Co. (NYSE:L) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,332,502 shares of the insurance provider’s stock after selling 293,622 shares during the period. JPMorgan Chase & Co. owned approximately 0.06% of Loews worth $1,044,440,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in Loews by 1.0% in the 3rd quarter. State Street Corp now owns 8,077,241 shares of the insurance provider’s stock worth $638,506,000 after purchasing an additional 82,581 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Loews by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,265,493 shares of the insurance provider’s stock worth $336,005,000 after acquiring an additional 53,428 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Loews by 0.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,191,888 shares of the insurance provider’s stock valued at $268,640,000 after acquiring an additional 8,750 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Loews by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,623,291 shares of the insurance provider’s stock worth $137,477,000 after buying an additional 11,540 shares during the last quarter. Finally, Boston Partners raised its stake in shares of Loews by 16.9% in the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider’s stock valued at $126,983,000 after acquiring an additional 217,115 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total value of $4,254,000.00. Following the sale, the director now directly owns 7,105,529 shares in the company, valued at $604,538,407.32. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,860 shares of company stock worth $13,486,463 in the last 90 days. Company insiders own 18.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Price Performance

Shares of L stock opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock’s fifty day moving average is $85.78 and its 200-day moving average is $83.37. Loews Co. has a 52 week low of $72.91 and a 52 week high of $92.13. The stock has a market capitalization of $19.30 billion, a PE ratio of 14.17 and a beta of 0.80.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 annualized dividend and a yield of 0.28%. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Loews 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.