Fort Pitt Capital Group Lowers stake in Loews Corporation (L)

Loews Corporation (L) : Fort Pitt Capital Group reduced its stake in Loews Corporation by 0.2% during the most recent quarter end. The investment management company now holds a total of 647,232 shares of Loews Corporation which is valued at $26,180,534 after selling 1,267 shares in Loews Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Loews Corporation makes up approximately 3.11% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Pineno Levin Ford Asset Management boosted its stake in L in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 79,617 shares of Loews Corporation which is valued at $3,288,182. Loews Corporation makes up approx 1.65% of Pineno Levin Ford Asset Management’s portfolio.Chevy Chase Trust Holdings boosted its stake in L in the latest quarter, The investment management firm added 2,822 additional shares and now holds a total of 236,594 shares of Loews Corporation which is valued at $9,648,303. Loews Corporation makes up approx 0.05% of Chevy Chase Trust Holdings’s portfolio.

Loews Corporation closed down -0.06 points or -0.15% at $40.39 with 6,13,511 shares getting traded on Thursday. Post opening the session at $40.51, the shares hit an intraday low of $40.35 and an intraday high of $40.68 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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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