Spire Wealth Management Sells 3,615 Shares of Loews Corporation $L

Spire Wealth Management reduced its position in shares of Loews Corporation (NYSE:L) by 77.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,026 shares of the insurance provider’s stock after selling 3,615 shares during the period. Spire Wealth Management’s holdings in Loews were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in L. Wayfinding Financial LLC bought a new stake in shares of Loews during the first quarter worth about $25,000. Elequin Capital LP acquired a new stake in Loews in the first quarter valued at $30,000. Zions Bancorporation National Association UT acquired a new stake in Loews in the first quarter valued at $33,000. Hantz Financial Services Inc. raised its position in Loews by 14,900.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 447 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Loews during the 2nd quarter worth about $60,000. 58.33% of the stock is currently owned by institutional investors.

Loews Stock Performance

Shares of L opened at $100.92 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $20.93 billion, a P/E ratio of 16.04 and a beta of 0.73. The firm’s fifty day simple moving average is $98.99 and its two-hundred day simple moving average is $93.34. Loews Corporation has a 12 month low of $78.98 and a 12 month high of $103.52.

Loews (NYSE:L) last released its quarterly earnings data on Monday, November 3rd. The insurance provider reported $2.43 earnings per share (EPS) for the quarter. Loews had a net margin of 7.47% and a return on equity of 7.43%. The company had revenue of $4.67 billion for the quarter.

Wall Street Analysts Forecast Growth

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

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.