Assenagon Asset Management S.A. purchased a new position in shares of CNA Financial Co. (NYSE:CNA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,025 shares of the insurance provider's stock, valued at approximately $1,065,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CNA. True Wealth Design LLC bought a new stake in CNA Financial in the third quarter worth $36,000. GAMMA Investing LLC lifted its stake in shares of CNA Financial by 16.7% in the 4th quarter. GAMMA Investing LLC now owns 2,051 shares of the insurance provider's stock valued at $99,000 after acquiring an additional 293 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of CNA Financial in the 3rd quarter valued at about $146,000. US Bancorp DE boosted its holdings in CNA Financial by 26.6% during the 3rd quarter. US Bancorp DE now owns 3,449 shares of the insurance provider's stock valued at $169,000 after acquiring an additional 725 shares during the period. Finally, Blue Trust Inc. grew its position in CNA Financial by 74.8% during the 3rd quarter. Blue Trust Inc. now owns 3,635 shares of the insurance provider's stock worth $167,000 after acquiring an additional 1,555 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other CNA Financial news, EVP Douglas Worman sold 22,973 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the sale, the executive vice president now directly owns 133,777 shares in the company, valued at approximately $6,521,628.75. This trade represents a 14.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company's stock.
Analyst Upgrades and Downgrades
CNA has been the topic of several recent analyst reports. StockNews.com upgraded shares of CNA Financial from a "hold" rating to a "buy" rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods cut their price target on shares of CNA Financial from $55.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, January 10th. Finally, Bank of America upped their price objective on shares of CNA Financial from $45.00 to $48.00 and gave the company an "underperform" rating in a research note on Thursday, October 10th.
Get Our Latest Stock Analysis on CNA Financial
CNA Financial Trading Up 1.2 %
CNA Financial stock traded up $0.56 during mid-day trading on Friday, reaching $48.70. 236,040 shares of the company traded hands, compared to its average volume of 181,778. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.26 and a quick ratio of 0.26. CNA Financial Co. has a 52-week low of $42.33 and a 52-week high of $52.36. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 6.02 and a beta of 0.67. The firm's 50 day moving average price is $48.60 and its 200 day moving average price is $48.92.
CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $1.06 earnings per share. On average, analysts anticipate that CNA Financial Co. will post 4.68 earnings per share for the current fiscal year.
CNA Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Monday, November 18th. CNA Financial's payout ratio is currently 36.67%.
CNA Financial Company Profile
(
Free Report)
CNA Financial Corporation provides commercial property and casualty insurance products in the United States and internationally. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity and cyber coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
Further Reading
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