Miracle Mile Advisors LLC Takes $315,000 Position in Loews Co. (NYSE:L)

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

A number of other large investors have also recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of Loews in the third quarter valued at approximately $40,000. Kimelman & Baird LLC bought a new stake in shares of Loews during the 2nd quarter worth $45,000. Eastern Bank acquired a new position in Loews in the 3rd quarter valued at $47,000. Wilmington Savings Fund Society FSB bought a new position in Loews in the 3rd quarter worth $49,000. Finally, Quest Partners LLC acquired a new position in Loews during the 3rd quarter worth $129,000. 58.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Loews Stock Performance

Shares of NYSE L opened at $86.11 on Friday. Loews Co. has a 12 month low of $70.59 and a 12 month high of $87.45. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.48. The company has a market cap of $18.75 billion, a P/E ratio of 11.44 and a beta of 0.83. The business’s 50 day moving average is $84.28 and its two-hundred day moving average is $80.70.

Loews Dividend Announcement

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

Insider Buying and Selling at Loews

In other news, Director Andrew H. Tisch sold 50,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $83.26, for a total transaction of $4,163,000.00. Following the completion of the transaction, the director now owns 11,939,677 shares of the company’s stock, valued at approximately $994,097,507.02. This represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 19,906 shares in the company, valued at approximately $1,728,437.98. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,679 shares of company stock valued at $11,134,916 in the last ninety days. Company 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.