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

JPMorgan Chase & Co. trimmed its holdings in shares of Loews Co. (NYSE:L - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,626,124 shares of the insurance provider's stock after selling 98,691 shares during the period. JPMorgan Chase & Co. owned approximately 5.80% of Loews worth $998,095,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in Loews during the third quarter valued at approximately $40,000. Kimelman & Baird LLC purchased a new position in shares of Loews during the 2nd quarter valued at approximately $45,000. Eastern Bank acquired a new position in shares of Loews in the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews during the third quarter worth $49,000. Finally, International Assets Investment Management LLC acquired a new stake in Loews during the second quarter valued at $57,000. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Loews from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th.

Loews Price Performance

Shares of L stock traded down $0.58 during trading hours on Friday, hitting $84.68. 625,793 shares of the company's stock were exchanged, compared to its average volume of 724,076. Loews Co. has a fifty-two week low of $69.19 and a fifty-two week high of $87.45. The firm has a market cap of $18.44 billion, a P/E ratio of 11.25 and a beta of 0.83. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $83.35 and a two-hundred day moving average of $79.97.

Loews Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Wednesday, November 27th. Loews's dividend payout ratio is presently 3.32%.

Insider Buying and Selling at Loews

In other Loews news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total transaction of $99,507.18. Following the sale, the director now owns 19,906 shares of the company's stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Tisch sold 50,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the sale, the director now owns 11,939,677 shares of the company's stock, valued at $994,097,507.02. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,146 shares of company stock valued at $10,499,507 over the last ninety days. Corporate insiders own 18.70% of the company's stock.

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.