Townsquare Capital LLC Acquires Shares of 7,929 Loews Co. (NYSE:L)

Townsquare Capital LLC bought a new position in Loews Co. (NYSE:L - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,929 shares of the insurance provider's stock, valued at approximately $671,000.

Several other institutional investors and hedge funds have also recently modified their holdings of L. Miracle Mile Advisors LLC bought a new position in Loews in the fourth quarter valued at $315,000. Nordea Investment Management AB boosted its holdings in shares of Loews by 7.5% in the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock worth $1,323,000 after purchasing an additional 1,085 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Loews by 6.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after purchasing an additional 77,386 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Loews during the 4th quarter valued at about $440,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Loews in the 4th quarter worth approximately $425,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Insider Activity at Loews

In other news, Director Jonathan M. Tisch sold 3,691 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total transaction of $320,710.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $85.08, for a total value of $4,254,000.00. Following the transaction, the director now owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,327 shares of company stock worth $12,851,055 in the last three months. 18.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Loews Trading Down 1.4 %

Shares of NYSE:L traded down $1.23 on Friday, reaching $85.01. 77,025 shares of the company traded hands, compared to its average volume of 778,363. The stock has a market capitalization of $17.88 billion, a P/E ratio of 13.28 and a beta of 0.60. The business's 50-day simple moving average is $86.08 and its 200 day simple moving average is $84.40. 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 Co. has a 52 week low of $73.15 and a 52 week high of $92.42.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results 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 company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews's payout ratio is 3.91%.

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.