Loews Corporation $L Stock: Allspring Global Investments Holdings LLC Increases Position

Key Points

• Allspring Global Investments increased its Loews stake by 1.0% in the third quarter, adding 28,502 shares to hold 2,807,110 shares valued at about $294.9 million.
• Institutional investors own 58.33% of Loews shares. Other notable moves included BlackRock establishing a new stake and Amundi increasing its position by 12.6%.
• Loews reported quarterly EPS of $1.50 and revenue of $4.76 billion. MarketBeat’s average analyst rating is “Buy,” though Weiss Ratings recently lowered its rating from “buy (A-)” to “buy (B+).”

Allspring Global Investments Holdings LLC increased its holdings in Loews Corporation (NYSE:L - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,807,110 shares of the insurance provider's stock after acquiring an additional 28,502 shares during the period. Allspring Global Investments Holdings LLC owned about 1.37% of Loews worth $294,887,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of L. BlackRock Inc. purchased a new stake in shares of Loews during the 2nd quarter valued at $1,621,369,000. Dimensional Fund Advisors LP increased its holdings in Loews by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,270,492 shares of the insurance provider's stock worth $242,340,000 after buying an additional 28,016 shares during the last quarter. Legal & General Group Plc bought a new stake in Loews in the second quarter worth about $140,248,000. Bank of New York Mellon Corp bought a new stake in Loews in the second quarter worth about $107,461,000. Finally, Amundi raised its position in Loews by 12.6% in the second quarter. Amundi now owns 752,222 shares of the insurance provider's stock worth $85,159,000 after acquiring an additional 84,243 shares during the period. 58.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Loews from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, Loews has an average rating of "Buy".

Loews Stock Up 0.1%

L stock opened at $109.83 on Monday. The stock has a fifty day moving average of $108.63 and a 200-day moving average of $109.53. Loews Corporation has a fifty-two week low of $101.08 and a fifty-two week high of $121.01. The company has a market capitalization of $22.21 billion, a price-to-earnings ratio of 15.19 and a beta of 0.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.36 and a current ratio of 0.36.

Loews (NYSE:L - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter. Loews had a return on equity of 7.60% and a net margin of 7.93%. The business had revenue of $4.76 billion for the quarter.

Loews Profile

Loews Corporation is a diversified holding company with businesses in insurance, energy infrastructure and hospitality. Its subsidiaries operate independently, while Loews provides corporate oversight and capital allocation.

CNA Financial provides commercial property and casualty insurance, along with related services, to businesses and organizations. Boardwalk Pipelines operates natural gas pipeline and storage infrastructure, primarily in the United States. Loews Hotels & Co owns and operates hotels and resorts, principally in North America.

The company traces its origins to 1946, when brothers Laurence and Preston Robert Tisch founded Loews Theatres.

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