Noteworthy Price Action: A Reversal for Loews Corporation Is Not Near. The Stock Rises Again

Noteworthy Price Action: A Reversal for Loews Corporation Is Not Near. The Stock Rises Again

The stock of Loews Corporation (NYSE:L) is a huge mover today! About 1.80 million shares traded hands or 97.38% up from the average. Loews Corporation (NYSE:L) has risen 7.19% since March 29, 2016 and is uptrending. It has outperformed by 3.71% the S&P500.
The move comes after 8 months positive chart setup for the $14.52 billion company. It was reported on Oct, 31 by Barchart.com. We have $61.99 PT which if reached, will make NYSE:L worth $6.39B more.

Analysts await Loews Corporation (NYSE:L) to report earnings on November, 7. They expect $0.65 earnings per share, up 30.00% or $0.15 from last year’s $0.5 per share. L’s profit will be $219.23M for 16.56 P/E if the $0.65 EPS becomes a reality. After $0.60 actual earnings per share reported by Loews Corporation for the previous quarter, Wall Street now forecasts 8.33% EPS growth.

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 increased to 1.11 in Q2 2016. Its up 0.21, from 0.9 in 2016Q1. The ratio is positive, 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.
Ar Asset Mngmt holds 1.41% of its portfolio in Loews Corporation (NYSE:L) for 81,477 shares. Pictet Asset Mngmt has invested 0.02% of its portfolio in Loews Corporation (NYSE:L). Wilbanks Smith And Thomas Asset Ltd Liability last reported 0.02% of its portfolio in the stock. Torray Ltd Com has 1.01% invested in the company for 324,435 shares. Hallmark Cap Mgmt Inc accumulated 19,440 shares or 0.12% of the stock. First Personal Financial Service, a North Carolina-based fund reported 500 shares. Advantus Cap Management has 0.03% invested in the company for 25,907 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems accumulated 21,444 shares or 0.02% of the stock. Sentinel Tru Lba holds 6,973 shares or 0.04% of its portfolio. Tiaa Cref Mgmt Ltd, a New York-based fund reported 478,279 shares. Glenmede Na has 0% invested in the company for 639 shares. Capstone Asset last reported 51,021 shares in the company. Price T Rowe Associate Inc Md accumulated 23.74M shares or 0.21% of the stock. Dimensional Fund Advsr L P last reported 0.08% of its portfolio in the stock. Rhumbline Advisers accumulated 416,683 shares or 0.05% of the stock.

Insider Transactions: Since May 4, 2016, the stock had 0 insider buys, and 8 sales for $46,176 net activity. FRIBOURG PAUL J had sold 126 shares worth $5,279 on Wednesday, August 31. LASKAWY PHILIP A sold $8,187 worth of Loews Corporation (NYSE:L) on Wednesday, June 1. GARSON GARY W had sold 1,120 shares worth $44,442 on Wednesday, May 4. $5,413 worth of Loews Corporation (NYSE:L) was sold by DIKER CHARLES M on Thursday, September 1. 203 Loews Corporation (NYSE:L) shares with value of $8,187 were sold by HARRIS WALTER L. 72 shares with value of $2,876 were sold by BOWER JOSEPH L on Friday, June 10. The insider BERMAN ANN E sold 130 shares worth $5,412.

More recent Loews Corporation (NYSE:L) news were published by: Prnewswire.com which released: “Loews Corporation Reports Net Income Of $327 Million For The Third Quarter Of 2016” on October 31, 2016. Also Prnewswire.com published the news titled: “Loews Corporation to Release Third Quarter 2016 Results on October 31” on October 11, 2016. Benzinga.com‘s news article titled: “Stocks Hitting 52-Week Highs” with publication date: October 31, 2016 was also an interesting one.

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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