Hi Line Capital Management LLC Takes Position in Loews Co. (NYSE:L)

Hi Line Capital Management LLC purchased a new position in Loews Co. (NYSE:L - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,878 shares of the insurance provider's stock, valued at approximately $2,446,000. Loews makes up about 1.1% of Hi Line Capital Management LLC's holdings, making the stock its 28th largest position.

A number of other institutional investors also recently bought and sold shares of L. Brooklyn Investment Group bought a new position in Loews in the third quarter worth about $40,000. Eastern Bank purchased a new stake in Loews in the third quarter worth about $47,000. Wilmington Savings Fund Society FSB purchased a new stake in Loews in the third quarter worth about $49,000. Human Investing LLC purchased a new stake in Loews in the fourth quarter worth about $51,000. Finally, Venturi Wealth Management LLC grew its holdings in Loews by 10.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,237 shares of the insurance provider's stock worth $105,000 after purchasing an additional 119 shares during the period. 58.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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Insider Activity

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $85.08, for a total transaction of $4,254,000.00. Following the completion of the sale, the director now owns 7,105,529 shares in the company, valued at $604,538,407.32. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,370 shares of company stock worth $5,309,627 over the last 90 days. 18.70% of the stock is currently owned by insiders.

Loews Stock Up 1.9 %

Shares of NYSE:L traded up $1.64 during trading on Thursday, reaching $85.84. 429,884 shares of the stock traded hands, compared to its average volume of 707,084. The stock has a 50-day moving average of $84.45 and a two-hundred day moving average of $82.32. Loews Co. has a 52-week low of $72.91 and a 52-week high of $88.29. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $18.27 billion, a P/E ratio of 13.41 and a beta of 0.83.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $0.86 EPS for the quarter. Loews had a net margin of 8.08% and a return on equity of 8.04%.

Loews Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is 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.