Cerity Partners LLC Acquires 11,637 Shares of Loews Co. (NYSE:L)

Cerity Partners LLC lifted its holdings in Loews Co. (NYSE:L) by 64.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,755 shares of the insurance provider’s stock after acquiring an additional 11,637 shares during the period. Cerity Partners LLC’s holdings in Loews were worth $2,352,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Cetera Advisors LLC bought a new position in Loews during the first quarter valued at approximately $339,000. DekaBank Deutsche Girozentrale boosted its stake in Loews by 62.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 46,675 shares of the insurance provider’s stock valued at $3,630,000 after buying an additional 18,001 shares during the last quarter. GAMMA Investing LLC boosted its stake in Loews by 39.4% during the second quarter. GAMMA Investing LLC now owns 4,596 shares of the insurance provider’s stock valued at $344,000 after buying an additional 1,299 shares during the last quarter. DNB Asset Management AS boosted its stake in Loews by 16.3% during the second quarter. DNB Asset Management AS now owns 31,510 shares of the insurance provider’s stock valued at $2,355,000 after buying an additional 4,425 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Loews by 244.0% during the second quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after buying an additional 266 shares during the last quarter. Institutional investors own 58.33% of the company’s stock.

Insider Activity

In other news, Director Ann E. Berman sold 1,087 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.38, for a total value of $88,460.06. Following the completion of the sale, the director now owns 4,998 shares of the company’s stock, valued at $406,737.24. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan M. Tisch sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.82, for a total value of $2,045,500.00. Following the completion of the sale, the insider now directly owns 461,395 shares of the company’s stock, valued at $37,751,338.90. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,587 shares of company stock worth $17,586,460. 18.70% of the stock is currently owned by company insiders.

Loews Trading Down 0.4 %

L opened at $86.73 on Monday. The stock’s fifty day moving average is $81.20 and its two-hundred day moving average is $78.73. The company has a market capitalization of $18.89 billion, a P/E ratio of 11.52 and a beta of 0.82. Loews Co. has a 52 week low of $67.20 and a 52 week high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48.

Loews Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be issued a $0.0625 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.29%. Loews’s dividend payout ratio is presently 3.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Loews from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th.

Loews Company Profile

Loews Corporation provides commercial property and casualty insurance in the United States and internationally. The company offers specialty insurance products, such as management and professional liability, and other coverage products; surety and fidelity bonds; property insurance products that include standard and excess property, marine and boiler, and machinery coverages; and casualty insurance products, such as workers' compensation, general and product liability, and commercial auto, surplus, and umbrella coverages.