Private Management Group Inc Lowers stake in Loews Corporation (L)

Loews Corporation (L) : Private Management Group Inc reduced its stake in Loews Corporation by 1.04% during the most recent quarter end. The investment management company now holds a total of 749,015 shares of Loews Corporation which is valued at $30,754,556 after selling 7,863 shares in Loews Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Loews Corporation makes up approximately 1.97% of Private Management Group Inc’s portfolio.

Other Hedge Funds, Including , Cipher Capital Lp added L to its portfolio by purchasing 26,649 company shares during the most recent quarter which is valued at $1,094,208. Loews Corporation makes up approx 0.07% of Cipher Capital Lp’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in L by selling 1,195 shares or 1.98% in the most recent quarter. The Hedge Fund company now holds 59,258 shares of L which is valued at $2,449,133. Loews Corporation makes up approx 0.02% of Public Employees Retirement Association Of Colorado’s portfolio.

Loews Corporation opened for trading at $41.48 and hit $41.62 on the upside on Tuesday, eventually ending the session at $41.48, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 7,60,387 shares. Company has a market cap of $13,983 M.

On the company’s financial health, Loews Corporation reported $-0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.76 based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus of $0.57.During the same quarter in the previous year, the company posted $0.46 EPS.

Investors should note that on Aug 9, 2016, Loews Corporation announced a cash dividend of $0.0625. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 13, 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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