3,725 Shares in Loews Co. (NYSE:L) Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC purchased a new position in shares of Loews Co. (NYSE:L - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,725 shares of the insurance provider's stock, valued at approximately $315,000.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Loews by 0.5% during 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 in the last quarter. Intech Investment Management LLC increased its stake 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 valued at $10,875,000 after purchasing an additional 10,213 shares in the last quarter. Swedbank AB lifted 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 valued at $30,011,000 after buying an additional 30,600 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Loews by 47.8% during the third quarter. PNC Financial Services Group Inc. now owns 37,319 shares of the insurance provider's stock valued at $2,950,000 after purchasing an additional 12,070 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Loews by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 15,619 shares of the insurance provider's stock worth $1,323,000 after buying an additional 1,085 shares in the last quarter. 58.33% of the stock is owned by hedge funds and other institutional investors.

Loews Stock Up 0.2 %

Loews stock traded up $0.19 during mid-day trading on Friday, reaching $86.27. 553,874 shares of the company's stock were exchanged, compared to its average volume of 713,556. The company has a fifty day moving average of $84.28 and a 200-day moving average of $80.70. 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 twelve month low of $70.59 and a twelve month high of $87.45. The company has a market cap of $18.79 billion, a P/E ratio of 11.46 and a beta of 0.83.

Loews Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 27th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 0.29%. Loews's dividend payout ratio is presently 3.32%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Charles M. Diker sold 1,146 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now directly owns 19,906 shares of the company's stock, valued at $1,728,437.98. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew H. Tisch sold 7,533 shares of Loews stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $84.35, for a total value of $635,408.55. Following the transaction, the director now directly owns 1,568,191 shares of the company's stock, valued at $132,276,910.85. This trade represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,679 shares of company stock worth $11,134,916 in the last quarter. 18.70% of the stock is owned by insiders.

Loews Company 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.