BNP Paribas Financial Markets Purchases 44,399 Shares of Loews Corporation $L

Key Points

• BNP Paribas Financial Markets increased its stake in Loews Corporation by 11.5%, acquiring an additional 44,399 shares and now holds approximately 0.20% of the company valued at $39.4 million.
• Loews recently declared a quarterly dividend of $0.0625, which translates to an annualized dividend yield of 0.3%.
• Wall Street has upgraded Loews from a "hold" to a "buy" rating, which may influence future investor confidence in the company's performance.

BNP Paribas Financial Markets lifted its holdings in Loews Corporation (NYSE:L - Free Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 428,858 shares of the insurance provider's stock after purchasing an additional 44,399 shares during the quarter. BNP Paribas Financial Markets owned 0.20% of Loews worth $39,416,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new position in shares of Loews in the 1st quarter valued at about $25,000. Minot DeBlois Advisors LLC bought a new position in Loews in the fourth quarter valued at approximately $27,000. Sierra Ocean LLC increased its position in shares of Loews by 805.9% during the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock worth $28,000 after purchasing an additional 274 shares during the last quarter. Elequin Capital LP bought a new stake in shares of Loews during the 1st quarter worth approximately $30,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Loews in the 1st quarter valued at approximately $33,000. Institutional investors own 58.33% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Loews from a "hold" rating to a "buy" rating in a report on Tuesday, May 6th.

Loews Stock Performance

Shares of L stock traded up $0.60 during trading on Wednesday, reaching $96.82. 683,907 shares of the company's stock were exchanged, compared to its average volume of 712,909. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $97.41. The firm's fifty day moving average price is $93.12 and its 200-day moving average price is $89.15. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $20.08 billion, a PE ratio of 15.39 and a beta of 0.73.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.87 EPS for the quarter. The firm had revenue of $4.56 billion for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 annualized dividend and a yield of 0.3%. Loews's dividend payout ratio (DPR) is 3.97%.

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.