BNP Paribas Financial Markets Acquires 171,417 Shares of Loews Corporation $L

BNP Paribas Financial Markets lifted its holdings in Loews Corporation (NYSE:L) by 84.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 374,208 shares of the insurance provider’s stock after acquiring an additional 171,417 shares during the period. BNP Paribas Financial Markets’ holdings in Loews were worth $39,408,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new position in shares of Loews in the 4th quarter valued at about $27,000. Harbor Investment Advisory LLC bought a new position in shares of Loews in the 4th quarter valued at about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Loews in the 3rd quarter valued at about $30,000. Private Trust Co. NA lifted its holdings in shares of Loews by 896.7% in the 4th quarter. Private Trust Co. NA now owns 299 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 269 shares during the last quarter. Finally, Westfuller Advisors LLC bought a new position in shares of Loews in the 4th quarter valued at about $36,000. Institutional investors own 58.33% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Loews Stock Performance

Loews stock opened at $104.63 on Thursday. The company has a 50 day moving average price of $107.87 and a 200-day moving average price of $107.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a fifty-two week low of $86.77 and a fifty-two week high of $114.90. The company has a market capitalization of $21.53 billion, a PE ratio of 13.29 and a beta of 0.53.

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

Loews Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, May 27th. Loews’s payout ratio is currently 3.18%.

Insider Activity at Loews

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

Loews Company 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.