Stock Worth Watching: What Next for Loews Corporation Stock After Reaching 52-Week High?

Stock Worth Watching: What Next for Loews Corporation Stock After Reaching 52 Week High?

The stock of Loews Corporation (NYSE:L) hit a new 52-week high and has $59.83 target or 36.00% above today’s $43.99 share price. The 9 months bullish chart indicates low risk for the $14.70B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $59.83 price target is reached, the company will be worth $5.29 billion 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. The stock increased 0.89% or $0.39 during the last trading session, hitting $43.99. About 999,341 shares traded hands. Loews Corporation (NYSE:L) has risen 10.83% since April 15, 2016 and is uptrending. It has outperformed by 6.20% 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 increased to 1.11 in 2016 Q2. Its up 0.21, from 0.9 in 2016Q1. The ratio improved, 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.
First Manhattan last reported 360,634 shares in the company. Moreover, Moore Cap Mngmt Ltd Partnership has 0.02% invested in Loews Corporation (NYSE:L) for 14,404 shares. The Netherlands-based Ing Groep Nv has invested 0.01% in Loews Corporation (NYSE:L). Clearbridge Invs Lc holds 0% of its portfolio in Loews Corporation (NYSE:L) for 22,990 shares. Bridgeway Mngmt has invested 0.04% of its portfolio in Loews Corporation (NYSE:L). Commerce Bankshares accumulated 6,080 shares or 0% of the stock. The California-based Menta Cap Limited Liability has invested 0.16% in Loews Corporation (NYSE:L). The Netherlands-based Shell Asset Mgmt has invested 0.02% in Loews Corporation (NYSE:L). Ahl Prtn Llp has 15,904 shares for 0.04% of their US portfolio. Guggenheim Capital Llc has 841,499 shares for 0.11% of their US portfolio. Mizuho Asset Mgmt Coltd last reported 0.03% of its portfolio in the stock. New York State Teachers Retirement Systems last reported 515,728 shares in the company. Nationwide Fund reported 268,413 shares or 0.05% of all its holdings. The Vermont-based Trust Of Vermont has invested 0% in Loews Corporation (NYSE:L). Cornerstone Mgmt Com owns 57,625 shares or 0.02% of their US portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 9 sales for $383,354 net activity. BERMAN ANN E had sold 130 shares worth $5,412. $8,187 worth of shares were sold by LASKAWY PHILIP A on Wednesday, June 1. Another trade for 72 shares valued at $2,876 was sold by BOWER JOSEPH L. The insider HARRIS WALTER L sold 203 shares worth $8,187. The insider FRIBOURG PAUL J sold 126 shares worth $5,279. Shares for $337,178 were sold by SCOTT RICHARD WALDO. DIKER CHARLES M also sold $5,413 worth of Loews Corporation (NYSE:L) on Thursday, September 1.

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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