JPMorgan Investment Management, I recently announced the acquisition of new stake in Loews Corp. (NYSE:L). The institutional investor has increased its shareholding in the Financial company by 0.14% to 12.62 million shares with purchase of 18104.0 shares. This fresh investment now brings its stake to 5.65% valued currently at $878.35 million. In addition, Norges Bank Investment Management raised its holdings by 0.16 million to 7.21 million shares. And Allspring Global Investments LLC has lifted its position by 0.52% or 16733.0 shares – to 3.24 million shares.
With over 0.46 million Loews Corp. (L) shares trading Friday and a closing price of $71.08 on the day, the dollar volume was approximately $32.83 million. The shares have shown a positive half year performance of 19.58% and its price on 01/12/24 gained nearly 0.11%. Currently, there are 235.96M common shares owned by the public and among those 183.33M shares have been available to trade.
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Insiders at the company have transacted a total of 119 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 62 of these insider trades were purchases, accounting for 632,643 shares. Insider sales of the common stock occurred on 57 occasions, with total insider shares sold totaling 312,609 shares.
The top 3 mutual fund holders in Loews Corp. are Government Pension Fund – Global, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Government Pension Fund – Global owns 7.16 million shares of the company’s stock, all valued at over $498.39 million. The company sold -0.14 million shares recently to bring their total holdings to about 3.21% of the shares outstanding. Vanguard Total Stock Market ETF bought 5721.0 shares to see its total holdings expand to 5.64 million shares valued at over $392.21 million and representing 2.52% of the shares outstanding. Vanguard 500 Index Fund bought 19769.0 shares to bring its total holdings to over 4.46 million shares at a value of $310.63 million. Vanguard 500 Index Fund now owns shares totaling to 2.00% of the shares outstanding.
Shares of Loews Corp. (NYSE: L) opened at $71.50, up $0.5 from a prior closing price of $71.00. However, the script later moved the day high at 71.84, up 0.11%. The company’s stock has a 5-day price change of -0.15% and 11.76% over the past three months. L shares are trading 2.14% year to date (YTD), with the 12-month market performance up to 18.80% higher. It has a 12-month low price of $52.85 and touched a high of $71.49 over the same period. L has an average intraday trading volume of 859.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.99%, 3.86%, and 13.76% respectively.
Institutional ownership of Loews Corp. (NYSE: L) shares accounts for 57.97% of the company’s 235.96M shares outstanding. Mutual fund holders own 39.50%, while other institutional holders and individual stakeholders account for 46.26% and 18.87% respectively.
It has a market capitalization of $15.87B and a beta (3y monthly) value of 0.82. The stock’s trailing 12-month PE ratio is 12.21, while the earnings-per-share (ttm) stands at $5.82. The company has a PEG of 0.87 and the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.20% over the week and 1.15% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should grow at an annualized rate of 14.03% over the next five years, compared to 3.81% over the past 5-year period.
Looking at the support for the L, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on November 02, 2016, with the firm’s price target at $42-$43.
