Oddo BHF Asset Management Sas Makes New $523,000 Investment in Loews Corporation $L

Oddo BHF Asset Management Sas bought a new stake in Loews Corporation (NYSE:L) in the first quarter, HoldingsChannel reports. The institutional investor bought 4,899 shares of the insurance provider’s stock, valued at approximately $523,000.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Loews in the fourth quarter valued at about $577,279,000. Goldman Sachs Group Inc. boosted its holdings in Loews by 32.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,237,922 shares of the insurance provider’s stock worth $340,986,000 after buying an additional 786,381 shares in the last quarter. Caisse de depot et placement du Quebec grew its position in Loews by 819.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 448,032 shares of the insurance provider’s stock worth $47,182,000 after buying an additional 399,281 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Loews by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock valued at $419,581,000 after buying an additional 344,995 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Loews by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock valued at $524,599,000 after buying an additional 271,234 shares in the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Loews Trading Down 2.1%

Shares of L stock opened at $116.40 on Friday. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $121.01. The stock has a market cap of $23.95 billion, a P/E ratio of 14.79 and a beta of 0.52. The business has a fifty day simple moving average of $111.49 and a 200-day simple moving average of $109.04. 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 (NYSE:L) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 EPS for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The business had revenue of $4.55 billion for the quarter.

Loews Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Wednesday, May 27th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, May 27th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews’s payout ratio is presently 3.18%.

Insider Transactions at Loews

In other Loews news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction on Friday, May 29th. The shares were bought at an average price of $104.74 per share, with a total value of $523,700.00. Following the completion of the acquisition, the director directly owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. This trade represents a 95.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 19.00% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Loews from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has a consensus 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.