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

Allspring Global Investments Holdings LLC trimmed its stake in Loews Corporation (NYSE:L) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,828,617 shares of the insurance provider’s stock after selling 68,802 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.37% of Loews worth $296,043,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of L. SJS Investment Consulting Inc. boosted its holdings in shares of Loews by 880.8% in the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Loews during the 2nd quarter worth $27,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Loews during the 3rd quarter worth $30,000. Harbor Investment Advisory LLC purchased a new position in shares of Loews in the 4th quarter worth $30,000. Finally, Westside Investment Management Inc. boosted its holdings in Loews by 100.0% in the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Insiders Place Their Bets

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.81, for a total value of $5,440,500.00. Following the completion of the sale, the director directly owned 12,480,400 shares of the company’s stock, valued at approximately $1,357,992,324. This represents a 0.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann E. Berman sold 1,922 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $110.16, for a total transaction of $211,727.52. Following the completion of the transaction, the director owned 4,998 shares of the company’s stock, valued at $550,579.68. This trade represents a 27.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 105,417 shares of company stock worth $11,549,723. 18.70% of the stock is owned by corporate insiders.

Loews Stock Up 1.7%

Shares of NYSE:L opened at $105.81 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. Loews Corporation has a 52-week low of $78.98 and a 52-week high of $114.90. The company has a 50 day moving average of $107.66 and a two-hundred day moving average of $104.48. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 13.26 and a beta of 0.60.

Loews (NYSE:L) last announced its earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. The business had revenue of $4.73 billion during the quarter. Loews had a net margin of 9.03% and a return on equity of 8.86%.

Loews Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $0.25 annualized dividend and a yield of 0.2%. Loews’s dividend payout ratio (DPR) is presently 3.13%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Loews in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Loews has an average rating of “Strong 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.