Allspring Global Investments Holdings LLC Decreases Stock Holdings in Loews Corporation $L

Allspring Global Investments Holdings LLC reduced its stake in shares of Loews Corporation (NYSE:L) by 2.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,766,912 shares of the insurance provider’s stock after selling 61,705 shares during the period. Allspring Global Investments Holdings LLC owned 1.34% of Loews worth $295,063,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in L. Vanguard Group Inc. grew its holdings in Loews by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 19,426,064 shares of the insurance provider’s stock valued at $2,045,759,000 after buying an additional 108,882 shares in the last quarter. Norges Bank purchased a new position in shares of Loews during the 4th quarter worth $577,279,000. Geode Capital Management LLC raised its holdings in shares of Loews by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 4,999,186 shares of the insurance provider’s stock worth $524,599,000 after acquiring an additional 271,234 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Loews by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,984,234 shares of the insurance provider’s stock worth $419,581,000 after acquiring an additional 344,995 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Loews by 0.4% during the 3rd quarter. Invesco Ltd. now owns 3,363,861 shares of the insurance provider’s stock valued at $337,698,000 after acquiring an additional 12,311 shares during the last quarter. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Dino Robusto purchased 5,000 shares of Loews stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $104.74 per share, with a total value of $523,700.00. Following the purchase, the director owned 10,235 shares of the company’s stock, valued at approximately $1,072,013.90. The trade was a 95.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 19.00% of the company’s stock.

Loews Stock Performance

Shares of Loews stock opened at $113.64 on Friday. Loews Corporation has a 52 week low of $89.32 and a 52 week high of $119.10. The business’s fifty day simple moving average is $109.40 and its 200-day simple moving average is $108.25. The firm has a market cap of $23.38 billion, a PE ratio of 14.44 and a beta of 0.52. 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 issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $1.63 earnings per share (EPS) for the quarter. The firm had revenue of $4.55 billion during the quarter. Loews had a return on equity of 8.51% and a net margin of 8.83%.

Loews Announces Dividend

The business also recently declared 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 dividend yield of 0.2%. Loews’s dividend payout ratio (DPR) is currently 3.18%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Loews from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Loews has an average rating of “Buy”.

About Loews

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.