Loews Corporation $L Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Loews Corporation (NYSE:L) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,766,912 shares of the insurance provider’s stock after selling 61,705 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Loews were worth $295,063,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of L. Vanguard Group Inc. increased its stake in Loews by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock worth $2,045,759,000 after purchasing an additional 108,882 shares during the period. Norges Bank acquired a new stake in shares of Loews during the fourth quarter worth about $577,279,000. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 271,234 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 344,995 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Loews by 0.4% in the third quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after purchasing an additional 12,311 shares in the last quarter. 58.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Loews Stock Up 1.0%

L stock opened at $113.64 on Friday. The company’s 50 day moving average price is $109.40 and its 200 day moving average price is $108.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.36 and a current ratio of 0.36. Loews Corporation has a fifty-two week low of $89.32 and a fifty-two week high of $119.10. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 14.44 and a beta of 0.52.

Loews (NYSE:L) last issued its quarterly earnings results on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. Loews had a net margin of 8.83% and a return on equity of 8.51%. The company had revenue of $4.55 billion during the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Wednesday, May 27th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Wednesday, May 27th. Loews’s dividend payout ratio (DPR) is presently 3.18%.

Insider Buying and Selling at Loews

In other news, Director Dino Robusto acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the transaction, the director owned 10,235 shares in the company, 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 SEC, which can be accessed through this hyperlink. Insiders own 19.00% of the company’s stock.

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.