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

Cerity Partners LLC lifted its stake in shares of Loews Co. (NYSE:L - Free Report) by 64.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in L. Versant Capital Management Inc increased its holdings in shares of Loews by 244.0% during the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider's stock worth $28,000 after acquiring an additional 266 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in Loews in the 2nd quarter worth about $45,000. Family Firm Inc. bought a new position in shares of Loews during the second quarter worth approximately $46,000. Eastern Bank acquired a new stake in shares of Loews in the third quarter valued at approximately $47,000. Finally, Innealta Capital LLC bought a new position in shares of Loews in the second quarter worth $51,000. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Loews news, Director Ann E. Berman sold 1,087 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.38, for a total transaction of $88,460.06. Following the sale, the director now owns 4,998 shares in the company, valued at approximately $406,737.24. This trade represents a 17.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 25,000 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 461,395 shares of the company's stock, valued at approximately $37,751,338.90. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,587 shares of company stock worth $17,586,460 over the last three months. 18.70% of the stock is currently owned by corporate insiders.

Loews Price Performance

Shares of NYSE L traded down $0.56 during trading hours on Monday, reaching $86.17. 808,092 shares of the stock traded hands, compared to its average volume of 714,211. The company has a market capitalization of $18.77 billion, a P/E ratio of 11.44 and a beta of 0.82. The company's 50-day simple moving average is $81.35 and its two-hundred day simple moving average is $78.80. 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 Co. has a 52-week low of $67.20 and a 52-week high of $87.45.

Loews Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 27th will be paid a $0.0625 dividend. The ex-dividend date of this dividend 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 currently 3.32%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Loews from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th.

Loews 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.