BNP Paribas Financial Markets Raises Stock Holdings in Loews Co. (NYSE:L)

BNP Paribas Financial Markets grew its stake in shares of Loews Co. (NYSE:L) by 42.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,569 shares of the insurance provider’s stock after acquiring an additional 69,836 shares during the quarter. BNP Paribas Financial Markets owned about 0.11% of Loews worth $18,622,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in L. Brooklyn Investment Group purchased a new stake in Loews during the third quarter valued at $40,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Loews during the 3rd quarter valued at about $674,000. Daiwa Securities Group Inc. lifted its stake in shares of Loews by 11.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,632 shares of the insurance provider’s stock worth $1,789,000 after purchasing an additional 2,304 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of Loews by 2.6% in the third quarter. Summit Trail Advisors LLC now owns 6,038 shares of the insurance provider’s stock worth $477,000 after buying an additional 153 shares during the last quarter. Finally, Swedbank AB grew its position in Loews by 8.8% during the third quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock valued at $30,011,000 after buying an additional 30,600 shares during the period. 58.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Loews from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th.

Insider Transactions at Loews

In related news, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the transaction, the director now directly owns 12,089,677 shares in the company, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total transaction of $88,460.06. Following the completion of the sale, the director now directly owns 4,998 shares of the company’s stock, valued at approximately $406,737.24. The trade was a 17.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 213,587 shares of company stock valued at $17,586,460 in the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Loews Price Performance

Shares of Loews stock opened at $86.73 on Friday. The stock’s 50-day simple moving average is $81.20 and its 200-day simple moving average is $78.72. The company has a market capitalization of $18.89 billion, a price-to-earnings ratio of 11.52 and a beta of 0.82. Loews Co. has a 52 week low of $67.20 and a 52 week high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio is currently 3.32%.

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.