BNP Paribas Financial Markets Purchases 69,836 Shares of Loews Co. (NYSE:L)

BNP Paribas Financial Markets lifted its position in shares of Loews Co. (NYSE:L) by 42.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,569 shares of the insurance provider’s stock after buying an additional 69,836 shares during the quarter. BNP Paribas Financial Markets’ holdings in Loews were worth $18,622,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Loews by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,183,138 shares of the insurance provider’s stock valued at $251,627,000 after acquiring an additional 69,459 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock valued at $199,858,000 after purchasing an additional 161,810 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after purchasing an additional 8,615 shares during the last quarter. AQR Capital Management LLC raised its holdings in Loews by 5.8% in the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after purchasing an additional 45,237 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Loews by 5.0% during the second quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after buying an additional 33,125 shares during the last quarter. Hedge funds and other institutional investors own 58.33% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Stock Down 0.4 %

Shares of L stock opened at $86.73 on Friday. The stock’s fifty day moving average price is $81.20 and its 200 day moving average price is $78.72. Loews Co. has a 1-year low of $67.20 and a 1-year high of $87.45. The company has a market cap of $18.89 billion, a price-to-earnings ratio of 11.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.34 and a quick ratio of 0.34.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.0625 per share. 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 payout ratio is 3.32%.

Insider Activity

In other Loews news, insider Jonathan M. Tisch sold 25,000 shares of Loews stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total transaction of $2,045,500.00. Following the completion of the sale, the insider now owns 461,395 shares of the company’s stock, valued at approximately $37,751,338.90. The trade was a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew H. Tisch sold 75,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total value of $6,237,000.00. Following the completion of the transaction, the director now directly owns 12,089,677 shares in the company, valued at $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,587 shares of company stock worth $17,586,460 over the last 90 days. 18.70% of the stock is currently owned by corporate insiders.

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.