JPMorgan Chase & Co. Sells 293,622 Shares of Loews Co. (NYSE:L)

JPMorgan Chase & Co. lessened its stake in shares of Loews Co. (NYSE:L - Free Report) by 2.3% in the 4th quarter, according to 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 period. JPMorgan Chase & Co. owned 5.66% of Loews worth $1,044,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in Loews in the 4th quarter worth $26,000. Brooklyn Investment Group purchased a new stake in shares of Loews during the third quarter worth about $40,000. Wilmington Savings Fund Society FSB bought a new stake in Loews during the 3rd quarter valued at approximately $49,000. Human Investing LLC bought a new position in Loews in the 4th quarter worth approximately $51,000. Finally, Graney & King LLC purchased a new stake in Loews during the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Buying and Selling

In related news, Director Andrew H. Tisch sold 7,533 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $84.35, for a total value of $635,408.55. Following the sale, the director now directly owns 1,568,191 shares of the company's stock, valued at $132,276,910.85. This represents a 0.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $84.88, for a total value of $4,043,343.68. Following the transaction, the director now owns 6,705,529 shares of the company's stock, valued at $569,165,301.52. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,860 shares of company stock worth $13,486,463. Corporate insiders own 18.70% of the company's stock.

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Loews Price Performance

Shares of NYSE:L traded up $1.31 during mid-day trading on Monday, reaching $91.95. The stock had a trading volume of 883,042 shares, compared to its average volume of 718,813. The business's 50 day moving average price is $85.78 and its 200 day moving average price is $83.44. Loews Co. has a 1 year low of $72.91 and a 1 year high of $92.36. The company has a market cap of $19.57 billion, a P/E ratio of 14.37 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 - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) 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 declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, February 26th. Loews's payout ratio is 3.91%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Loews from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

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.