Banco Santander S.A. Makes New Investment in Loews Co. (NYSE:L)

Banco Santander S.A. bought a new position in shares of Loews Co. (NYSE:L) during the third quarter, Holdings Channel.com reports. The fund bought 2,552 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also made changes to their positions in L. Allspring Global Investments Holdings LLC boosted its stake 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 worth $251,627,000 after purchasing an additional 69,459 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Loews by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,673,906 shares of the insurance provider’s stock worth $199,858,000 after buying an additional 161,810 shares during the period. AQR Capital Management LLC grew its holdings in shares of Loews by 5.8% during the second quarter. AQR Capital Management LLC now owns 820,800 shares of the insurance provider’s stock worth $61,347,000 after buying an additional 45,237 shares during the last quarter. Hsbc Holdings PLC increased its position in Loews by 5.0% in the 2nd quarter. Hsbc Holdings PLC now owns 692,116 shares of the insurance provider’s stock valued at $51,750,000 after acquiring an additional 33,125 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Loews by 22.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 569,156 shares of the insurance provider’s stock valued at $44,992,000 after acquiring an additional 105,810 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Loews

In other news, insider Jonathan M. Tisch sold 62,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the transaction, the insider now owns 6,781,634 shares of the company’s stock, valued at $548,227,292.56. The trade was a 0.91 % decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the transaction, the director now directly owns 11,939,677 shares in the company, valued at $994,097,507.02. The trade was a 0.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,587 shares of company stock valued at $17,586,460. 18.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their target price on Loews from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. StockNews.com downgraded Loews from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Loews Price Performance

Shares of NYSE L opened at $86.07 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 11.43 and a beta of 0.82. The company’s 50-day moving average price is $80.44 and its 200 day moving average price is $78.40. Loews Co. has a 52 week low of $67.20 and a 52 week high of $86.27.

Loews Announces Dividend

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