BNP Paribas Financial Markets Boosts Stake in Loews Corporation $L

BNP Paribas Financial Markets boosted its holdings in Loews Corporation (NYSE:L) by 84.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 374,208 shares of the insurance provider’s stock after buying an additional 171,417 shares during the period. BNP Paribas Financial Markets owned 0.18% of Loews worth $39,408,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of L. Harbor Capital Advisors Inc. purchased a new stake in Loews in the 4th quarter worth $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Loews in the 3rd quarter worth $30,000. Harbor Investment Advisory LLC purchased a new stake in Loews in the 4th quarter worth $30,000. Private Trust Co. NA increased its stake in Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock worth $31,000 after buying an additional 269 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new stake in Loews in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Loews Trading Down 0.3%

Shares of Loews stock opened at $104.63 on Thursday. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 13.29 and a beta of 0.53. The business has a 50-day moving average price of $107.87 and a 200-day moving average price of $107.00. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46. Loews Corporation has a twelve month low of $86.77 and a twelve month high of $114.90.

Loews (NYSE:L) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share for the quarter. The firm had revenue of $4.56 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.0625 per share. The ex-dividend date is Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insider Transactions at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.81, for a total transaction of $5,440,500.00. Following the completion of the transaction, the director owned 12,480,400 shares in the company, valued at $1,357,992,324. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dino Robusto purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the acquisition, the director owned 10,235 shares in the company, valued at $1,072,013.90. The trade was a 95.51% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 19.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Loews Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.