Geode Capital Management LLC Cuts Position in CNA Financial Co. (NYSE:CNA)

Geode Capital Management LLC cut its stake in CNA Financial Co. (NYSE:CNA - Free Report) by 21.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 298,024 shares of the insurance provider's stock after selling 79,690 shares during the period. Geode Capital Management LLC owned about 0.11% of CNA Financial worth $14,590,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CNA. Signaturefd LLC grew its position in CNA Financial by 10.4% during the second quarter. Signaturefd LLC now owns 3,897 shares of the insurance provider's stock valued at $180,000 after acquiring an additional 366 shares during the last quarter. Convergence Investment Partners LLC raised its position in CNA Financial by 139.0% in the 2nd quarter. Convergence Investment Partners LLC now owns 14,328 shares of the insurance provider's stock worth $660,000 after purchasing an additional 8,334 shares during the period. Rhumbline Advisers lifted its stake in CNA Financial by 570.6% in the second quarter. Rhumbline Advisers now owns 529,862 shares of the insurance provider's stock worth $24,411,000 after purchasing an additional 450,843 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in CNA Financial by 9.5% during the second quarter. Impact Partnership Wealth LLC now owns 8,795 shares of the insurance provider's stock valued at $405,000 after buying an additional 760 shares during the period. Finally, Wakefield Asset Management LLLP boosted its position in CNA Financial by 4.5% during the second quarter. Wakefield Asset Management LLLP now owns 10,205 shares of the insurance provider's stock valued at $470,000 after buying an additional 440 shares during the period. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other news, EVP Douglas Worman sold 22,973 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares in the company, valued at $6,521,628.75. This trade represents a 14.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNA shares. Keefe, Bruyette & Woods increased their target price on CNA Financial from $54.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, November 8th. StockNews.com raised CNA Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, November 13th. Finally, Bank of America raised their target price on shares of CNA Financial from $45.00 to $48.00 and gave the stock an "underperform" rating in a report on Thursday, October 10th.

CNA Financial Trading Up 0.2 %

Shares of CNA Financial stock traded up $0.09 during trading on Tuesday, reaching $48.37. 131,889 shares of the stock were exchanged, compared to its average volume of 273,743. CNA Financial Co. has a 1 year low of $41.64 and a 1 year high of $52.36. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average is $48.86 and its 200 day moving average is $48.56.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. The business had revenue of $3.62 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the business posted $1.06 EPS. As a group, equities research analysts expect that CNA Financial Co. will post 4.68 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Monday, November 18th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, November 18th. CNA Financial's payout ratio is currently 36.67%.

CNA Financial Company Profile

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.