ExodusPoint Capital Management LP Invests $4.26 Million in Loews Co. (NYSE:L)

ExodusPoint Capital Management LP purchased a new stake in Loews Co. (NYSE:L - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 50,347 shares of the insurance provider's stock, valued at approximately $4,264,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Loews in the fourth quarter worth about $623,493,000. Assenagon Asset Management S.A. increased its stake in Loews by 345.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,538 shares of the insurance provider's stock worth $25,114,000 after acquiring an additional 229,965 shares during the last quarter. Boston Partners raised its holdings in shares of Loews by 16.9% during the 4th quarter. Boston Partners now owns 1,499,417 shares of the insurance provider's stock worth $126,983,000 after acquiring an additional 217,115 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Loews by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 4,476,087 shares of the insurance provider's stock valued at $378,087,000 after acquiring an additional 210,594 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Loews in the fourth quarter valued at $12,727,000. Hedge funds and other institutional investors own 58.33% of the company's stock.

Loews Trading Up 0.3 %

L traded up $0.24 on Friday, hitting $84.61. The company had a trading volume of 1,386,381 shares, compared to its average volume of 737,046. The business's fifty day simple moving average is $85.95 and its 200 day simple moving average is $84.01. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. Loews Co. has a 12-month low of $72.91 and a 12-month high of $92.42. The company has a market cap of $17.80 billion, a PE ratio of 13.22 and a beta of 0.60.

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

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Wednesday, February 26th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, February 26th. Loews's payout ratio is 3.91%.

Insider Buying and Selling at Loews

In related news, Director Jonathan M. Tisch sold 3,691 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan M. Tisch sold 50,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were 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 directly owns 7,105,529 shares of the company's stock, valued at approximately $604,538,407.32. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,327 shares of company stock worth $12,851,055 over the last quarter. Insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

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

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.