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 $38,125 were sold by HARRIS WALTER L on Mar 01. At $61.00 per share, HARRIS WALTER L sold 625 shares. The insider’s holdings dropped to 19,633 shares worth approximately $1.1 million following the completion of this transaction.
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Also, FRIBOURG PAUL J sold 625 shares, netting a total of over 38,125 in proceeds. Following the sale of shares at $61.00 each, the insider now holds 0 shares.
Before that, DIKER CHARLES M had sold 625 shares from its account. In a trade valued at $38,112, the Director traded Loews Corporation shares for $60.98 each. Upon closing the transaction, the insider’s holdings decreased to 625 shares, worth approximately $0.93 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 -29.93% premium over Thursday’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 Stock Performance
On Thursday, Loews Corporation [NYSE: L] rose 2.87% to $55.87. The stock’s lowest price that day was $53.57, but it reached a high of $56.18 in the same session. During the last five days, there has been a drop of approximately -3.95%. Over the course of the year, Loews Corporation shares have dropped approximately -4.22%. Shares of the company reached a 52-week high of $63.24 on 02/09/23 and a 52-week low of $53.52 on 03/15/23. A 50-day SMA is recorded $60.08, while a 200-day SMA reached $57.51. Nevertheless, trading volume fell to 1.46 million shares from 1.26 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 54.23, which, if violated, would cause prices to drop to 52.60. In the upper region, resistance lies at 56.84. The next price resistance is at 57.82. RSI (Relative Strength Index) is 34.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.36, which suggests the price will decrease in the coming days. Percent R is at 72.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Loews Corporation (L)?
According to The Vanguard Group, Inc. filings, the company currently owns 22,449,383 shares, which is about 9.55% of the total L shares outstanding. The investor’s shares have plunged by -202,446 from its previous 13-F filing of 22651829.0 shares. With the completion of the sale transaction, JPMorgan Investment Management, I’s stake is now worth $776,184,371. BlackRock Fund Advisors acquire a 1.62% interest valued at $598.53 million while T. Rowe Price Associates, Inc. sold a -1,698,597 stake. A total of 33,939 shares of Loews Corporation were sold by SSgA Funds Management, Inc. during the quarter, and -137,904 were sold by Norges Bank Investment Management. In its current portfolio, Invesco Capital Management LLC holds 4,960,641 shares valued at $303.05 million.