JPMorgan Chase & Co. Sells 900,556 Shares of Loews Corporation (NYSE:L)

Key Points

• JPMorgan Chase & Co. sold 900,556 shares of Loews Corporation, reducing its holdings by 7.3% to approximately 11.4 million shares worth $1.05 billion.
• Loews announced a quarterly dividend of $0.0625 per share, with an annual yield of 0.3%, payable on September 2nd.
• Loews Corporation had a net margin of 7.47% and reported earnings of $1.87 EPS for the most recent quarter, with a revenue of $4.56 billion.

JPMorgan Chase & Co. lessened its holdings in shares of Loews Corporation (NYSE:L - Free Report) by 7.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,431,946 shares of the insurance provider's stock after selling 900,556 shares during the period. JPMorgan Chase & Co. owned 5.45% of Loews worth $1,050,710,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in L. Wayfinding Financial LLC bought a new stake in shares of Loews during the first quarter worth $25,000. Minot DeBlois Advisors LLC bought a new stake in shares of Loews during the fourth quarter worth $27,000. Sierra Ocean LLC lifted its stake in shares of Loews by 805.9% during the first quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after acquiring an additional 274 shares during the period. Zions Bancorporation National Association UT bought a new position in Loews in the first quarter valued at about $33,000. Finally, Itau Unibanco Holding S.A. increased its position in Loews by 387.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock worth $37,000 after purchasing an additional 345 shares during the period. Institutional investors own 58.33% of the company's stock.

Loews Stock Performance

Loews stock opened at $93.78 on Monday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 1 year low of $75.16 and a 1 year high of $94.62. The company has a market cap of $19.45 billion, a PE ratio of 14.91 and a beta of 0.69. The company's 50-day moving average is $90.62 and its two-hundred day moving average is $87.89.

Loews (NYSE:L - Get Free Report) last released its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.56 billion for the quarter.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.0625 per share. The ex-dividend date is Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.3%. Loews's dividend payout ratio (DPR) is 3.97%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a research report on Tuesday, May 6th.

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.

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