Townsquare Capital LLC Takes Position in Loews Co. (NYSE:L)

Townsquare Capital LLC purchased a new position in shares of Loews Co. (NYSE:L - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,929 shares of the insurance provider's stock, valued at approximately $671,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MML Investors Services LLC lifted its stake in Loews by 7.0% in the third quarter. MML Investors Services LLC now owns 10,717 shares of the insurance provider's stock valued at $847,000 after buying an additional 701 shares during the last quarter. Barclays PLC raised its position in Loews by 13.1% in the 3rd quarter. Barclays PLC now owns 752,380 shares of the insurance provider's stock valued at $59,473,000 after purchasing an additional 87,259 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Loews during the 3rd quarter worth $49,000. Synovus Financial Corp purchased a new position in Loews during the 3rd quarter worth $205,000. Finally, Principal Financial Group Inc. increased its stake in Loews by 3.0% in the third quarter. Principal Financial Group Inc. now owns 248,665 shares of the insurance provider's stock valued at $19,657,000 after purchasing an additional 7,149 shares during the period. Institutional investors and hedge funds own 58.33% of the company's stock.

Loews Price Performance

L stock traded up $0.48 on Wednesday, reaching $86.19. 472,566 shares of the company's stock were exchanged, compared to its average volume of 732,667. Loews Co. has a twelve month low of $73.15 and a twelve month high of $92.42. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $85.95 and a 200-day moving average of $84.32. The firm has a market cap of $18.13 billion, a PE ratio of 13.47 and a beta of 0.60.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data 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 announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $0.25 dividend on an annualized basis and a yield of 0.29%. Loews's payout ratio is 3.91%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Loews

In other news, Director Jonathan M. Tisch sold 47,636 shares of the 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 sale, the director now directly owns 6,705,529 shares in the company, valued at $569,165,301.52. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the firm'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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,327 shares of company stock valued at $12,851,055. Insiders own 18.70% of the company's stock.

Loews 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.