The Tisch family is adding to its holdings of the conglomerate.
A younger member of the Tisch family spent nearly $20 million in recent days buying up more shares of Loews Corp ., according to securities filings and VerityData. Benjamin Tisch, the son of Loews CEO James Tisch, bought about $18.8 million worth of stock over three days. The Tisch family already owns about 18% of Loews, according to VerityData. Loews is a conglomerate company whose subsidiaries include Loews Hotels, Boardwalk Pipelines, Altium Packaging and CNA Financial .
The thinking goes that executives and board members are more willing to spend their own money buying additional shares of a company if they think the stock is undervalued, and stock purchases can be a signal that management is confident in the direction of the company. Here are the five largest insider buys of the past week, as compiled by VerityData. 1. Loews — The conglomerate's senior vice president Benjamin Tisch scooped up about $18.8 million worth of stock from May 31 to June 2.
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