Jolley Asset Management buys $3,944,187 stake in Loews Corporation (L)

Loews Corporation (L) : Jolley Asset Management scooped up 2,871 additional shares in Loews Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 98,951 shares of Loews Corporation which is valued at $3,944,187.Loews Corporation makes up approximately 3.46% of Jolley Asset Management’s portfolio.

Loews Corporation opened for trading at $40.14 and hit $40.5 on the upside on Wednesday, eventually ending the session at $40.24, with a gain of 0.37% or 0.15 points. The heightened volatility saw the trading volume jump to 8,18,959 shares. Company has a market cap of $13,641 M.

Other Hedge Funds, Including , Foundation Resource Management Inc boosted its stake in L in the latest quarter, The investment management firm added 2,382 additional shares and now holds a total of 161,564 shares of Loews Corporation which is valued at $6,174,976. Loews Corporation makes up approx 1.24% of Foundation Resource Management Inc’s portfolio.

On the company’s financial health, Loews Corporation reported $-0.58 EPS for the quarter, missing the analyst consensus estimate by $ -1.35 based on the information available during the earnings call on Feb 8, 2016. Analyst had a consensus of $0.77. The company had revenue of $3333.00 million for the quarter.The company’s revenue was down -5.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.57 EPS.

Loews Corporation is a holding company. The Company through its subsidiaries is engaged in commercial property and casualty insurance; operation of offshore oil and gas drilling rigs; transportation and storage of natural gas and natural gas liquids and gathering and processing of natural gas and operation of a chain of hotels. The Company’s subsidiaries include CNA Financial Corporation (CNA); Diamond Offshore Drilling Inc. (Diamond Offshore); Boardwalk Pipeline Partners LP (Boardwalk Pipeline) and Loews Hotels Holding Corporation (Loews Hotels). CNA’s insurance products primarily include commercial property and casualty coverages including surety. Diamond Offshore is engaged in the business of operating drilling rigs. Boardwalk Pipeline is engaged in natural gas and natural gas liquids transportation and storage and natural gas gathering and processing. The subsidiaries of Loews Hotels Holding Corporation operate a chain of 21 hotels.

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