Ieq Capital LLC lifted its holdings in shares of CNA Financial Co. (NYSE:CNA - Free Report) by 276.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,893 shares of the insurance provider's stock after buying an additional 60,867 shares during the period. Ieq Capital LLC's holdings in CNA Financial were worth $4,010,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC raised its position in CNA Financial by 107.1% in the third quarter. HighTower Advisors LLC now owns 22,172 shares of the insurance provider's stock worth $1,066,000 after acquiring an additional 11,468 shares in the last quarter. Creative Planning grew its stake in shares of CNA Financial by 16.5% during the 3rd quarter. Creative Planning now owns 16,067 shares of the insurance provider's stock worth $786,000 after purchasing an additional 2,272 shares during the period. Quest Partners LLC increased its holdings in shares of CNA Financial by 69.3% in the 3rd quarter. Quest Partners LLC now owns 26,737 shares of the insurance provider's stock valued at $1,309,000 after purchasing an additional 10,940 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of CNA Financial by 43.9% in the third quarter. Wellington Management Group LLP now owns 41,051 shares of the insurance provider's stock valued at $2,009,000 after purchasing an additional 12,528 shares during the period. Finally, Barclays PLC lifted its stake in shares of CNA Financial by 108.7% in the third quarter. Barclays PLC now owns 31,444 shares of the insurance provider's stock valued at $1,539,000 after purchasing an additional 16,377 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CNA shares. StockNews.com cut shares of CNA Financial from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their price objective on CNA Financial from $54.00 to $53.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th.
Check Out Our Latest Research Report on CNA Financial
CNA Financial Price Performance
Shares of NYSE CNA traded up $1.14 on Tuesday, hitting $48.79. The company's stock had a trading volume of 331,051 shares, compared to its average volume of 298,931. The stock has a 50 day moving average of $48.49 and a 200-day moving average of $49.10. The company has a market capitalization of $13.22 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 9.23 and a beta of 0.66. CNA Financial Co. has a 12-month low of $42.33 and a 12-month high of $52.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.28 and a quick ratio of 0.28.
CNA Financial (NYSE:CNA - Get Free Report) last posted its earnings results on Monday, February 10th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.14. CNA Financial had a return on equity of 12.90% and a net margin of 6.72%. As a group, research analysts predict that CNA Financial Co. will post 4.64 EPS for the current year.
CNA Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be paid a dividend of $0.46 per share. This is an increase from CNA Financial's previous quarterly dividend of $0.44. The ex-dividend date is Monday, February 24th. This represents a $1.84 annualized dividend and a dividend yield of 3.77%. CNA Financial's dividend payout ratio is presently 50.00%.
About CNA Financial
(
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.
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