Notable Mover: After Reaching 52-Week High, Is Loews Corporation’s Near-Term Analysis Positive?

Notable Mover: After Reaching 52 Week High, Is Loews Corporation's Near Term Analysis Positive?

The stock of Loews Corporation (NYSE:L) hit a new 52-week high and has $46.22 target or 4.00% above today’s $44.44 share price. The 7 months bullish chart indicates low risk for the $14.93B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $46.22 price target is reached, the company will be worth $597.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 122,341 shares traded hands. Loews Corporation (NYSE:L) has risen 10.64% since April 20, 2016 and is uptrending. It has outperformed by 6.08% the S&P500.

According to Zacks Investment Research, “Loews is a holding company. Their subsidiaries are engaged in the following lines of business: commercial property and casualty insurance (CNA Financial Corporation); operation of offshore oil and gas drilling rigs (Diamond Offshore Drilling); transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas (Boardwalk Pipeline Partners, LP); and operation of a chain of hotels (Loews Hotels Holding Corporation).”

Insitutional Activity: The institutional sentiment decreased to 1.05 in 2016 Q2. Its down 0.06, from 1.11 in 2016Q1. The ratio dived, as 30 funds sold all Loews Corporation shares owned while 127 reduced positions. 39 funds bought stakes while 136 increased positions. They now own 187.71 million shares or 0.86% more from 186.12 million shares in 2016Q1.
Public Sector Pension Invest Board has invested 0.02% of its portfolio in Loews Corporation (NYSE:L). Exxonmobil Mgmt Tx last reported 69,327 shares in the company. Blackrock Institutional Trust Na last reported 7.04 million shares in the company. Sumitomo Mitsui Trust Incorporated holds 0.06% or 809,473 shares in its portfolio. Deere And Company reported 15,253 shares or 0.03% of all its holdings. Wasatch Advsr Inc, a Utah-based fund reported 319,612 shares. Texas Permanent School Fund accumulated 86,894 shares or 0.05% of the stock. Moreover, Profund Advisors Ltd has 0.01% invested in Loews Corporation (NYSE:L) for 6,667 shares. Raymond James Advsrs Incorporated last reported 4,897 shares in the company. Sandy Spring Comml Bank, a Maryland-based fund reported 158 shares. Oakbrook Investments Limited Liability Company has invested 0.08% of its portfolio in Loews Corporation (NYSE:L). Cap Advsrs Ltd Liability Com has invested 0.02% of its portfolio in Loews Corporation (NYSE:L). First Advsr Limited Partnership holds 35,347 shares or 0% of its portfolio. Veritable Lp holds 0.01% or 5,713 shares in its portfolio. The Ontario – Canada-based Toronto Dominion Bancshares has invested 0% in Loews Corporation (NYSE:L).

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 9 selling transactions for $383,354 net activity. 126 shares were sold by FRIBOURG PAUL J, worth $5,279. SCOTT RICHARD WALDO also sold $337,178 worth of Loews Corporation (NYSE:L) on Tuesday, November 1. $5,413 worth of Loews Corporation (NYSE:L) was sold by LASKAWY PHILIP A on Thursday, September 1. $5,412 worth of shares were sold by BERMAN ANN E on Thursday, September 1. HARRIS WALTER L sold $8,187 worth of stock or 203 shares. Another trade for 72 shares valued at $2,876 was sold by BOWER JOSEPH L. $5,413 worth of Loews Corporation (NYSE:L) was sold by DIKER CHARLES M.

Another recent and important Loews Corporation (NYSE:L) news was published by Fool.com which published an article titled: “Loews Corporation Profits Rise as Cash Balances Hit $5 Billion” on November 01, 2016.

L Company Profile

Loews Corporation, incorporated on November 12, 1969, is a holding company. The Company, through its subsidiaries, is engaged in commercial property and casualty insurance; operation of offshore gas and oil drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas, and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling, Inc. (Diamond Offshore); Boardwalk Pipeline Partners, LP (Boardwalk Pipeline), and Loews Hotels Holding Corporation (Loews Hotels).

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