Allspring Global Investments Holdings LLC Sells 133,013 Shares of Loews Corporation (NYSE:L)

Allspring Global Investments Holdings LLC lessened its holdings in Loews Corporation (NYSE:L - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,058,875 shares of the insurance provider's stock after selling 133,013 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.45% of Loews worth $281,692,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of L. Sanctuary Advisors LLC boosted its stake in shares of Loews by 8.5% in the 4th quarter. Sanctuary Advisors LLC now owns 9,279 shares of the insurance provider's stock valued at $800,000 after purchasing an additional 724 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Loews by 11.6% in the 4th quarter. Wealthspire Advisors LLC now owns 3,793 shares of the insurance provider's stock valued at $321,000 after purchasing an additional 394 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Loews in the 4th quarter valued at about $425,000. Bank of New York Mellon Corp boosted its stake in shares of Loews by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,287,833 shares of the insurance provider's stock valued at $109,067,000 after purchasing an additional 77,386 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Loews by 6.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 79,100 shares of the insurance provider's stock valued at $6,699,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 58.33% of the company's stock.

Loews Stock Up 0.5%

Loews stock opened at $90.45 on Friday. The company's 50 day simple moving average is $88.12 and its 200 day simple moving average is $86.26. Loews Corporation has a fifty-two week low of $73.15 and a fifty-two week high of $92.42. The firm has a market capitalization of $18.97 billion, a price-to-earnings ratio of 14.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.33 and a quick ratio of 0.33.

Loews (NYSE:L - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The business had revenue of $4.49 billion for the quarter.

Loews Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Wednesday, May 28th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, May 28th. Loews's payout ratio is 4.11%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

Insider Buying and Selling

In other Loews news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $87.92, for a total transaction of $792,950.48. Following the sale, the senior vice president now directly owns 33,901 shares in the company, valued at approximately $2,980,575.92. This trade represents a 21.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.00% of the stock is owned by insiders.

Loews Company 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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