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

Allspring Global Investments Holdings LLC boosted its holdings in shares of Loews Co. (NYSE:L) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,191,888 shares of the insurance provider’s stock after buying an additional 8,750 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Loews were worth $268,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in shares of Loews during the third quarter worth $40,000. Eastern Bank bought a new position in Loews during the third quarter worth about $47,000. Wilmington Savings Fund Society FSB acquired a new stake in Loews in the 3rd quarter worth about $49,000. Quest Partners LLC bought a new stake in Loews in the 3rd quarter valued at about $129,000. Finally, Blue Trust Inc. grew its position in shares of Loews by 240.5% during the 3rd quarter. Blue Trust Inc. now owns 2,360 shares of the insurance provider’s stock worth $176,000 after purchasing an additional 1,667 shares in the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Buying and Selling

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Diker sold 1,146 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the sale, the director now owns 19,906 shares of the company’s stock, valued at $1,728,437.98. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,370 shares of company stock worth $5,218,627 in the last three months. 18.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Loews from a “buy” rating to a “hold” rating in a report on Tuesday.

Loews Trading Down 1.2 %

Shares of L stock opened at $84.88 on Wednesday. Loews Co. has a fifty-two week low of $72.50 and a fifty-two week high of $88.29. The stock’s fifty day moving average price is $84.68 and its two-hundred day moving average price is $81.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.49 billion, a PE ratio of 11.27 and a beta of 0.83.

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

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.