Greenwood Gearhart Inc buys $6.2 Million stake in Loews Corporation (L)

Loews Corporation (L) : Greenwood Gearhart Inc scooped up 3,735 additional shares in Loews Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 157,607 shares of Loews Corporation which is valued at $6.2 Million.Loews Corporation makes up approximately 2.68% of Greenwood Gearhart Inc’s portfolio.

Other Hedge Funds, Including , Kiltearn Partners Llp reduced its stake in L by selling 262,100 shares or 8.14% in the most recent quarter. The Hedge Fund company now holds 2,956,400 shares of L which is valued at $116.4 Million. Loews Corporation makes up approx 4.96% of Kiltearn Partners Llp’s portfolio.Global X Management Co boosted its stake in L in the latest quarter, The investment management firm added 1,403 additional shares and now holds a total of 1,570 shares of Loews Corporation which is valued at $62,266.Motley Fool Asset Management boosted its stake in L in the latest quarter, The investment management firm added 167,700 additional shares and now holds a total of 349,390 shares of Loews Corporation which is valued at $13.9 Million. Loews Corporation makes up approx 3.00% of Motley Fool Asset Management’s portfolio.California Public Employees Retirement System boosted its stake in L in the latest quarter, The investment management firm added 6,500 additional shares and now holds a total of 861,980 shares of Loews Corporation which is valued at $34.2 Million. Loews Corporation makes up approx 0.05% of California Public Employees Retirement System’s portfolio.

Loews Corporation opened for trading at $40.06 and hit $40.5 on the upside on Friday, eventually ending the session at $40.17, with a gain of 0.70% or 0.28 points. The heightened volatility saw the trading volume jump to 13,66,923 shares. Company has a market cap of $13,618,273 M.

On the company’s financial health, Loews Corporation reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.52. The company had revenue of $3173.00 million for the quarter.The company’s revenue was down -8.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.29 EPS.

Investors should note that on May 10, 2016, Loews Corporation announced a cash dividend of $0.0625. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 14, 2016.

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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