Cerity Partners LLC Grows Stock Position in Loews Co. (NYSE:L)

Cerity Partners LLC lifted its holdings in Loews Co. (NYSE:L) by 64.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 29,755 shares of the insurance provider’s stock after purchasing an additional 11,637 shares during the quarter. Cerity Partners LLC’s holdings in Loews were worth $2,352,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in Loews by 244.0% in the 2nd quarter. Versant Capital Management Inc now owns 375 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 266 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Loews during the 2nd quarter worth about $45,000. Family Firm Inc. acquired a new position in Loews during the second quarter worth approximately $46,000. Eastern Bank purchased a new position in shares of Loews during the third quarter worth about $47,000. Finally, Innealta Capital LLC acquired a new stake in shares of Loews in the 2nd quarter worth $51,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Loews Stock Down 0.4 %

Shares of NYSE:L opened at $86.73 on Monday. Loews Co. has a 12-month low of $67.20 and a 12-month high of $87.45. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average price is $81.20 and its two-hundred day moving average price is $78.73. The firm has a market cap of $18.89 billion, a price-to-earnings ratio of 11.52 and a beta of 0.82.

Loews Announces Dividend

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

Insiders Place Their Bets

In related news, Director Andrew H. Tisch sold 75,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $83.16, for a total transaction of $6,237,000.00. Following the completion of the sale, the director now directly owns 12,089,677 shares of the company’s stock, valued at approximately $1,005,377,539.32. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan M. Tisch sold 62,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $80.84, for a total value of $5,052,500.00. Following the completion of the sale, the insider now owns 6,781,634 shares of the company’s stock, valued at approximately $548,227,292.56. This represents a 0.91 % decrease in their ownership of the stock. 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 owned by insiders.

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.