Traders Sell Loews (L) on Strength (L)
Traders sold shares of Loews Co. (NYSE:L) on strength during trading hours on Friday. $10.68 million flowed into the stock on the tick-up and $24.70 million flowed out of the stock on the tick-down, for a money net flow of $14.02 million out of the stock. Of all stocks tracked, Loews had the 0th highest net out-flow for the day. Loews traded up $0.05 for the day and closed at $51.57
Several research analysts have commented on the company. Zacks Investment Research raised Loews from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, January 5th. Desjardins downgraded Loews to a “hold” rating and set a $76.00 price target on the stock. in a research report on Tuesday, January 30th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.00.
The company has a debt-to-equity ratio of 0.46, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $16,957.51, a P/E ratio of 18.03 and a beta of 0.70.
In other news, insider Jonathan M. Tisch sold 7,800 shares of Loews stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $47.51, for a total transaction of $370,578.00. Following the sale, the insider now owns 2,990,022 shares of the company’s stock, valued at approximately $142,055,945.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth I. Siegel sold 6,242 shares of Loews stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $50.23, for a total value of $313,535.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,316 shares of company stock worth $697,655. Company insiders own 12.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Loews by 9.7% in the 4th quarter. Amalgamated Bank now owns 35,006 shares of the insurance provider’s stock valued at $1,751,000 after buying an additional 3,107 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Loews by 6.9% in the 4th quarter. OppenheimerFunds Inc. now owns 47,004 shares of the insurance provider’s stock valued at $2,352,000 after buying an additional 3,034 shares in the last quarter. Systematic Financial Management LP acquired a new stake in Loews in the 4th quarter valued at $16,398,000. Canyon Capital Advisors LLC acquired a new stake in Loews in the 4th quarter valued at $10,056,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Loews by 47.6% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 269,279 shares of the insurance provider’s stock valued at $13,472,000 after buying an additional 86,822 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors.
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Loews Corporation, through its subsidiaries, provides commercial property and casualty insurance in the United States, Canada, the United Kingdom, Continental Europe, and Singapore. The company offers management and professional liability insurance and risk management services, and other specialized property and casualty coverages; commercial surety and fidelity bonds; and warranty and alternative risk services primarily for vehicles and cell phones.
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