Fenimore Asset Management Inc Lowers stake in Loews Corporation (L)

Loews Corporation (L) : Fenimore Asset Management Inc reduced its stake in Loews Corporation by 0.96% during the most recent quarter end. The investment management company now holds a total of 602,795 shares of Loews Corporation which is valued at $24,823,098 after selling 5,850 shares in Loews Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Loews Corporation makes up approximately 1.21% of Fenimore Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Carroll Financial Associates reduced its stake in L by selling 13 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 2,355 shares of L which is valued at $97,850. Loews Corporation makes up approx 0.01% of Carroll Financial Associates’s portfolio.First Mercantile Trust Co reduced its stake in L by selling 3,300 shares or 13.98% in the most recent quarter. The Hedge Fund company now holds 20,300 shares of L which is valued at $838,187. Loews Corporation makes up approx 0.11% of First Mercantile Trust Co’s portfolio.Advisory Services Network reduced its stake in L by selling 24 shares or 5.27% in the most recent quarter. The Hedge Fund company now holds 431 shares of L which is valued at $17,796.Bnp Paribas Arbitrage Sa reduced its stake in L by selling 77,384 shares or 55.11% in the most recent quarter. The Hedge Fund company now holds 63,026 shares of L which is valued at $2,600,453. Loews Corporation makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Loews Corporation closed down -0.37 points or -0.89% at $41.18 with 5,85,599 shares getting traded on Tuesday. Post opening the session at $41.56, the shares hit an intraday low of $41.02 and an intraday high of $41.56 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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