Allspring Global Investments Holdings LLC Buys 8,750 Shares of Loews Co. (NYSE:L)

Allspring Global Investments Holdings LLC raised its stake in shares of Loews Co. (NYSE:L) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,191,888 shares of the insurance provider’s stock after acquiring an additional 8,750 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.47% of Loews worth $268,640,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Miracle Mile Advisors LLC acquired a new stake in Loews during the 4th quarter valued at $315,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Loews by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock worth $127,409,000 after purchasing an additional 8,615 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Loews by 8.0% in the third quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock valued at $10,875,000 after buying an additional 10,213 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Loews by 47.8% in the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock valued at $2,950,000 after buying an additional 12,070 shares during the last quarter. Finally, Swedbank AB lifted its position in Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after buying an additional 30,600 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Price Performance

Loews stock opened at $84.88 on Wednesday. The business’s 50-day simple moving average is $84.68 and its 200 day simple moving average is $81.89. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock has a market cap of $18.49 billion, a price-to-earnings ratio of 11.27 and a beta of 0.83. Loews Co. has a 12-month low of $72.50 and a 12-month high of $88.29.

Loews (NYSE:L) last issued its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a net margin of 9.71% and a return on equity of 9.70%.

Insider Activity

In other Loews news, Director Andrew H. Tisch sold 50,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $83.26, for a total value of $4,163,000.00. Following the completion of the transaction, the director now directly owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. The trade was a 0.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan M. Tisch sold 3,691 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $86.89, for a total value of $320,710.99. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock valued at $5,218,627 in the last ninety days. 18.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Loews from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.