Miracle Mile Advisors LLC Takes Position in Loews Co. (NYSE:L)

Miracle Mile Advisors LLC acquired a new position in shares of Loews Co. (NYSE:L) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,725 shares of the insurance provider’s stock, valued at approximately $315,000.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Loews by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,611,751 shares of the insurance provider’s stock valued at $127,409,000 after acquiring an additional 8,615 shares during the period. Intech Investment Management LLC grew its holdings in shares of Loews by 8.0% in the 3rd quarter. Intech Investment Management LLC now owns 137,566 shares of the insurance provider’s stock worth $10,875,000 after purchasing an additional 10,213 shares during the last quarter. Swedbank AB increased its position in shares of Loews by 8.8% during the 3rd quarter. Swedbank AB now owns 379,647 shares of the insurance provider’s stock worth $30,011,000 after purchasing an additional 30,600 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Loews by 47.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider’s stock worth $2,950,000 after purchasing an additional 12,070 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider’s stock valued at $1,323,000 after purchasing an additional 1,085 shares during the last quarter. 58.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Charles M. Diker sold 1,146 shares of Loews stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $86.83, for a total value of $99,507.18. Following the completion of the sale, the director now directly owns 19,906 shares in the company, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew H. Tisch sold 75,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $83.16, for a total value of $6,237,000.00. Following the sale, the director now directly owns 12,089,677 shares of the company’s stock, valued at $1,005,377,539.32. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,679 shares of company stock worth $11,134,916 in the last 90 days. Corporate insiders own 18.70% of the company’s stock.

Loews Trading Up 1.5 %

Shares of L opened at $86.11 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 11.44 and a beta of 0.83. The stock has a fifty day moving average price of $84.28 and a two-hundred day moving average price of $80.70. Loews Co. has a 52-week low of $70.59 and a 52-week high of $87.45.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Wednesday, November 27th were issued a $0.0625 dividend. The ex-dividend date was 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 3.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Loews from a “strong-buy” rating to a “buy” rating in a research note 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.