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

Cerity Partners LLC increased its holdings in shares of Loews Co. (NYSE:L) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,893 shares of the insurance provider’s stock after purchasing an additional 1,138 shares during the quarter. Cerity Partners LLC’s holdings in Loews were worth $2,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Loews by 66.3% during the fourth quarter. Russell Investments Group Ltd. now owns 118,857 shares of the insurance provider’s stock worth $10,066,000 after purchasing an additional 47,394 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Loews by 3.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 173,823 shares of the insurance provider’s stock worth $14,721,000 after buying an additional 6,055 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Loews during the fourth quarter worth approximately $7,379,000. ExodusPoint Capital Management LP purchased a new stake in Loews in the fourth quarter valued at approximately $4,264,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of Loews in the fourth quarter valued at approximately $1,486,000. 58.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Loews from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

Loews Stock Performance

NYSE L opened at $86.14 on Wednesday. The business’s 50-day moving average price is $85.94 and its 200 day moving average price is $84.11. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.50. The firm has a market cap of $18.12 billion, a P/E ratio of 13.46 and a beta of 0.60. Loews Co. has a 52-week low of $72.91 and a 52-week high of $92.42.

Loews (NYSE:L) last released its earnings results on Monday, February 10th. The insurance provider reported $0.86 earnings per share (EPS) for the quarter. Loews had a return on equity of 8.04% and a net margin of 8.08%.

Loews Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Wednesday, February 26th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.29%. The ex-dividend date was Wednesday, February 26th. Loews’s dividend payout ratio (DPR) is presently 3.91%.

Insider Activity

In other Loews news, Director Jonathan M. Tisch sold 3,691 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $86.89, for a total value of $320,710.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Tisch sold 47,636 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $84.88, for a total transaction of $4,043,343.68. Following the sale, the director now owns 6,705,529 shares in the company, valued at $569,165,301.52. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,327 shares of company stock valued at $12,851,055 over the last quarter. Corporate insiders own 18.70% of the company’s stock.

About Loews

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.