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

Allspring Global Investments Holdings LLC lessened its position in Loews Corporation (NYSE:L) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,960,802 shares of the insurance provider’s stock after selling 98,073 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Loews were worth $273,341,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in shares of Loews by 218.1% in the 1st quarter. Jane Street Group LLC now owns 142,050 shares of the insurance provider’s stock worth $13,056,000 after acquiring an additional 97,391 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Loews in the 1st quarter worth $224,000. Advisory Alpha LLC acquired a new stake in shares of Loews in the 1st quarter worth $284,000. American Century Companies Inc. lifted its stake in shares of Loews by 7.4% in the first quarter. American Century Companies Inc. now owns 96,249 shares of the insurance provider’s stock valued at $8,846,000 after purchasing an additional 6,660 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Loews by 589.9% in the first quarter. SG Americas Securities LLC now owns 10,162 shares of the insurance provider’s stock valued at $934,000 after purchasing an additional 8,689 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Down 1.4%

Shares of NYSE L opened at $100.78 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52 week low of $75.16 and a 52 week high of $103.52. The firm has a 50-day moving average price of $97.25 and a 200 day moving average price of $91.65. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 16.02 and a beta of 0.73.

Loews (NYSE:L) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.87 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The firm had revenue of $4.56 billion during the quarter.

Loews Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, August 20th. Loews’s dividend payout ratio (DPR) is 3.97%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of Loews in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

About Loews

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.