Cerity Partners LLC Grows Stock Holdings in Loews Corporation (NYSE:L)

Cerity Partners LLC boosted its position in shares of Loews Corporation (NYSE:L - Free Report) by 21.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,621 shares of the insurance provider's stock after purchasing an additional 6,728 shares during the quarter. Cerity Partners LLC's holdings in Loews were worth $3,458,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Loews in the 1st quarter valued at about $25,000. Sierra Ocean LLC lifted its holdings in shares of Loews by 805.9% in the 1st quarter. Sierra Ocean LLC now owns 308 shares of the insurance provider's stock valued at $28,000 after buying an additional 274 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of Loews in the 4th quarter valued at about $27,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Loews by 387.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 434 shares of the insurance provider's stock valued at $37,000 after buying an additional 345 shares during the period. Finally, NBC Securities Inc. acquired a new position in shares of Loews in the 1st quarter valued at about $40,000. 58.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Loews

In related news, SVP Richard Waldo Scott sold 9,019 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $87.92, for a total value of $792,950.48. Following the completion of the sale, the senior vice president owned 33,901 shares in the company, valued at $2,980,575.92. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.00% of the company's stock.

Loews Trading Up 0.1%

NYSE:L traded up $0.12 during trading hours on Friday, reaching $92.30. 950,767 shares of the stock were exchanged, compared to its average volume of 747,352. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $89.60 and a two-hundred day moving average of $87.04. Loews Corporation has a twelve month low of $75.16 and a twelve month high of $93.23. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 15.16 and a beta of 0.70.

Loews (NYSE:L - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.74 earnings per share for the quarter. Loews had a return on equity of 7.43% and a net margin of 7.47%. The business had revenue of $4.49 billion for the quarter.

Loews Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Wednesday, May 28th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Wednesday, May 28th. Loews's payout ratio is 4.11%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Loews from a "hold" rating to a "buy" rating in a research note on Tuesday, May 6th.

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.