The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Loews Corporation shares valued at $28,491 were sold by BOWER JOSEPH L on Jun 01. At $64.46 per share, BOWER JOSEPH L sold 442 shares. The insider’s holdings dropped to 13,229 shares worth approximately $0.77 million following the completion of this transaction.
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Also, DIKER CHARLES M sold 883 shares, netting a total of over 56,838 in proceeds. Following the sale of shares at $64.37 each, the insider now holds 16,633 shares.
Before that, BERMAN ANN E had sold 883 shares from its account. In a trade valued at $56,998, the Director traded Loews Corporation shares for $64.55 each. Upon closing the transaction, the insider’s holdings decreased to 883 shares, worth approximately $0.1 million.
As published in a research note from Deutsche Bank on November 02, 2016, Loews Corporation [L] has been retained to a Hold and the price target has been revised to $43. This represents a -35.84% premium over Wednesday’s closing price. Analysts at Deutsche Bank resumed the stock at ‘”a Hold”‘ outlook in a report released in early August. As of March 24, 2014, Deutsche Bank has decreased its “Buy” rating to a “Hold” for L. Earlier on September 04, 2013, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for L stock.
Analyzing L’s Price Performance
On Wednesday, Loews Corporation [NYSE: L] plunged -0.14% to $58.41. The stock’s lowest price that day was $57.57, but it reached a high of $58.94 in the same session. During the last five days, there has been a drop of approximately -0.22%. Over the course of the year, Loews Corporation shares have jumped approximately 1.13%. Shares of the company reached a 52-week high of $68.20 on 04/21/22 and a 52-week low of $56.68 on 06/16/22. A 50-day SMA is recorded $63.23, while a 200-day SMA reached $59.70. Nevertheless, trading volume fell to 1.11 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Loews Corporation (L)
According to the 24-hour chart, there is a support level at 57.67, which, if violated, would cause prices to drop to 56.94. In the upper region, resistance lies at 59.04. The next price resistance is at 59.68. RSI (Relative Strength Index) is 36.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.70, which suggests the price will decrease in the coming days. Percent R is at 80.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Loews Corporation subject to short interest?
Stocks of Loews Corporation saw a sharp rise in short interest on Apr 28, 2022 jumping by 90000.0 shares to 1.31 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 1.22 million shares. A jump of 6.87% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.66 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.66.
Which companies own the most shares of Loews Corporation (L)?
According to The Vanguard Group, Inc. filings, the company currently owns 22,008,991 shares, which is about 8.94% of the total L shares outstanding. The investor’s shares have plunged by -1,477 from its previous 13-F filing of 22010468.0 shares. With the completion of the sale, T. Rowe Price Associates, Inc.’s stake is now worth $1,243,196,605. JPMorgan Investment Management, I reduced a -7.89% interest valued at $865.93 million while BlackRock Fund Advisors sold a -135,042 stake. A total of -207,138 shares of Loews Corporation were sold by SSgA Funds Management, Inc. during the quarter, and -2,676,378 were sold by Norges Bank Investment Management. In its current portfolio, Geode Capital Management LLC holds 3,910,866 shares valued at $256.12 million.
In terms of Loews Corporation share price expectations, FactSet research, analysts set an average price target of $52.00 in the next 12 months, down nearly -11.1% from the previous closing price of $58.49. Analysts anticipate Loews Corporation stock to reach $52.00 by 2022, with the lowest price target being $52.00. In spite of this, 1 analysts ranked Loews Corporation stock as a Hold at the end of 2022.