Chevy Chase Trust Holdings LLC Has $7.73 Million Position in Loews Co. (NYSE:L)

Chevy Chase Trust Holdings LLC cut its position in Loews Co. (NYSE:L) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,746 shares of the insurance provider’s stock after selling 1,427 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Loews were worth $7,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in L. Brooklyn Investment Group acquired a new stake in Loews during the 3rd quarter worth $40,000. Kimelman & Baird LLC acquired a new stake in shares of Loews during the second quarter worth about $45,000. Family Firm Inc. acquired a new stake in shares of Loews during the second quarter worth about $46,000. Eastern Bank acquired a new position in shares of Loews in the 3rd quarter valued at approximately $47,000. Finally, Innealta Capital LLC acquired a new position in shares of Loews in the 2nd quarter valued at approximately $51,000. 58.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Loews news, Director Charles M. Diker sold 1,146 shares of the business’s stock in a transaction dated 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 directly 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 filing with the SEC, which is available through this link. Also, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 126,146 shares of company stock valued at $10,499,507 in the last quarter. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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 Stock Performance

L opened at $85.97 on Friday. The company has a market capitalization of $18.72 billion, a price-to-earnings ratio of 11.42 and a beta of 0.83. The business’s 50-day moving average price is $81.81 and its two-hundred day moving average price is $78.95. Loews Co. has a 1 year low of $67.20 and a 1 year high of $87.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Loews’s payout ratio is 3.32%.

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.