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

JPMorgan Chase & Co. lessened its position in shares of Loews Co. (NYSE:L) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,332,502 shares of the insurance provider’s stock after selling 293,622 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.66% of Loews worth $1,044,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elo Mutual Pension Insurance Co lifted its position in Loews by 13.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 18,881 shares of the insurance provider’s stock worth $1,599,000 after buying an additional 2,233 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Loews by 19.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 304,101 shares of the insurance provider’s stock worth $25,651,000 after acquiring an additional 50,104 shares during the last quarter. Korea Investment CORP raised its holdings in Loews by 11.5% in the 4th quarter. Korea Investment CORP now owns 154,018 shares of the insurance provider’s stock valued at $13,044,000 after buying an additional 15,879 shares during the period. Graney & King LLC acquired a new position in Loews during the fourth quarter worth $56,000. Finally, Florida Financial Advisors LLC lifted its stake in Loews by 18.9% during the 4th quarter. Florida Financial Advisors LLC now owns 6,044 shares of the insurance provider’s stock worth $512,000 after acquiring an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Stock Performance

NYSE L opened at $90.66 on Friday. The business’s 50 day moving average is $85.78 and its two-hundred day moving average is $83.37. Loews Co. has a 12-month low of $72.91 and a 12-month high of $92.13. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of 14.17 and a beta of 0.80. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.50.

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

Loews Dividend Announcement

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

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the transaction, the director now owns 6,705,529 shares in the company, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 158,860 shares of company stock worth $13,486,463. 18.70% of the stock is owned by company insiders.

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 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.