Loews Corporation (L)’s Stock Formed A Several Months Bullish Multiple Top Chart Pattern

June 20, 2017 - By Peter Erickson

Investors sentiment increased to 1.06 in 2016 Q4. Its up 0.01, from 1.05 in 2016Q3. It improved, as 25 investors sold Loews Corporation shares while 143 reduced holdings. 45 funds opened positions while 133 raised stakes. 191.99 million shares or 2.70% more from 186.94 million shares in 2016Q3 were reported.
259,251 are owned by Citigroup. Corda Mngmt Limited Company stated it has 1.8% in Loews Corporation (NYSE:L). Livforsakringsbolaget Skandia Omsesidigt invested in 0.08% or 31,658 shares. 4,687 are held by Moore Cap Mgmt Limited Partnership. Blackrock Management Llc stated it has 634,803 shares or 0.03% of all its holdings. Moreover, North Star Mngmt Corporation has 0% invested in Loews Corporation (NYSE:L) for 550 shares. Impact Advsrs Ltd holds 22,069 shares. Janney Montgomery Scott Lc accumulated 0% or 6,430 shares. Parametric Port Associate Limited Liability Com invested in 0.04% or 557,906 shares. Brandes Ptnrs L P has 0.12% invested in Loews Corporation (NYSE:L) for 167,562 shares. Credit Suisse Ag accumulated 541,538 shares or 0.03% of the stock. Adage Prtn Gru Limited Liability Company accumulated 398,148 shares. Kcg Holdings Incorporated reported 0.03% in Loews Corporation (NYSE:L). First Republic Mgmt owns 33,166 shares. Bridgeway Cap Incorporated reported 796,000 shares.

Since January 6, 2017, it had 0 buys, and 7 sales for $16,603 activity. The insider BERMAN ANN E sold $2,763. 58 shares were sold by HARRIS WALTER L, worth $2,763 on Wednesday, March 1. DIKER CHARLES M sold $2,762 worth of stock. Another trade for 23 shares valued at $1,063 was sold by BOWER JOSEPH L. The insider SCHWARTZ MARK S sold 56 shares worth $2,609. 58 shares were sold by LASKAWY PHILIP A, worth $2,763 on Wednesday, March 1. On Tuesday, February 28 the insider FRIBOURG PAUL J sold $1,880.

The stock of Loews Corporation (L) shows a multiple tops pattern with $49.45 target or 4.00 % above today’s $47.55 share price. The 8 months chart pattern indicates low risk for the $15.96B company. It was reported on Jun, 20 by Finviz.com. If the $49.45 price target is reached, the company will be worth $638.40 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

About 30,710 shares traded. Loews Corporation (NYSE:L) has risen 15.12% since June 20, 2016 and is uptrending. It has underperformed by 1.58% the S&P500.

Wall Street await Loews Corporation (NYSE:L) to release earnings on August, 7. Analysts forecast earnings per share of $0.78, up exactly $0.18 or 30.00 % from 2014’s $0.6 EPS. The expected L’s profit could reach $261.80 million giving the stock 15.24 P/E in the case that $0.78 earnings per share is reported. After posting $0.87 EPS for the previous quarter, Loews Corporation’s analysts now forecast -10.34 % negative EPS growth.

More important recent Loews Corporation (NYSE:L) news were published by: Nasdaq.com which released: “Loews Corporation (L) Ex-Dividend Date Scheduled for May 26, 2017” on May 25, 2017, also Prnewswire.com published article titled: “Loews Corporation Completes Acquisition of Consolidated Container Company”, Nasdaq.com published: “Loews Corp (L) Closes Consolidated Container Buyout” on May 23, 2017. More interesting news about Loews Corporation (NYSE:L) was released by: Seekingalpha.com and their article: “Loews: This Is What We’ve Been Waiting For” with publication date: April 12, 2017.

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