Allspring Global Investments Holdings LLC Reduces Position in Loews Corporation $L

Key Points

• Allspring Global Investments Holdings LLC reduced its position in Loews Corporation by 3.2%, owning 2,960,802 shares valued at $273.3 million following the sale of 98,073 shares.
• Several other investors, including Aaron Wealth Advisors LLC and BSW Wealth Partners, increased their stakes in Loews during the same quarter, indicating mixed investor sentiment.
• Loews Corporation recently declared a quarterly dividend of $0.0625 per share, with an annualized yield of 0.2% and a payout ratio of 3.97% as reported.

Allspring Global Investments Holdings LLC cut its position in Loews Corporation (NYSE:L - Free Report) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,960,802 shares of the insurance provider's stock after selling 98,073 shares during the period. Allspring Global Investments Holdings LLC owned 1.41% of Loews worth $273,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Aaron Wealth Advisors LLC grew its position in shares of Loews by 3.9% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,754 shares of the insurance provider's stock valued at $344,000 after buying an additional 142 shares during the last quarter. BSW Wealth Partners grew its position in shares of Loews by 5.4% in the 2nd quarter. BSW Wealth Partners now owns 2,812 shares of the insurance provider's stock valued at $258,000 after buying an additional 143 shares during the last quarter. Signaturefd LLC grew its position in shares of Loews by 4.0% in the 1st quarter. Signaturefd LLC now owns 3,940 shares of the insurance provider's stock valued at $362,000 after buying an additional 152 shares during the last quarter. Flynn Zito Capital Management LLC grew its position in shares of Loews by 5.9% in the 1st quarter. Flynn Zito Capital Management LLC now owns 3,309 shares of the insurance provider's stock valued at $304,000 after buying an additional 183 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Loews by 80.1% in the 1st quarter. UMB Bank n.a. now owns 470 shares of the insurance provider's stock valued at $43,000 after buying an additional 209 shares during the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Loews in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Loews presently has an average rating of "Buy".

Loews Stock Down 1.4%

Shares of NYSE:L opened at $100.78 on Monday. The stock has a market cap of $20.90 billion, a P/E ratio of 16.02 and a beta of 0.73. The firm has a fifty day moving average price of $97.25 and a 200 day moving average price of $91.65. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.33 and a quick ratio of 0.33. Loews Corporation has a 1-year low of $75.16 and a 1-year high of $103.52.

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

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. Loews's dividend payout ratio is currently 3.97%.

Loews 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.

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