Raymond James Financial Inc. Invests $13.13 Million in CNA Financial Co. (NYSE:CNA)

Raymond James Financial Inc. purchased a new stake in CNA Financial Co. (NYSE:CNA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 271,434 shares of the insurance provider's stock, valued at approximately $13,129,000. Raymond James Financial Inc. owned 0.10% of CNA Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Savant Capital LLC boosted its holdings in CNA Financial by 2.6% in the 4th quarter. Savant Capital LLC now owns 9,139 shares of the insurance provider's stock valued at $442,000 after purchasing an additional 230 shares during the period. US Bancorp DE boosted its holdings in CNA Financial by 7.4% in the 4th quarter. US Bancorp DE now owns 3,703 shares of the insurance provider's stock valued at $179,000 after purchasing an additional 254 shares during the period. Raymond James Trust N.A. boosted its holdings in CNA Financial by 4.1% in the 3rd quarter. Raymond James Trust N.A. now owns 6,526 shares of the insurance provider's stock valued at $319,000 after purchasing an additional 260 shares during the period. Smartleaf Asset Management LLC boosted its holdings in CNA Financial by 29.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the insurance provider's stock valued at $61,000 after purchasing an additional 286 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of CNA Financial by 16.7% during the 4th quarter. GAMMA Investing LLC now owns 2,051 shares of the insurance provider's stock worth $99,000 after acquiring an additional 293 shares during the period. 98.45% of the stock is owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of research firms recently weighed in on CNA. Keefe, Bruyette & Woods lowered their target price on shares of CNA Financial from $54.00 to $53.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered CNA Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

CNA Financial Price Performance

Shares of CNA traded down $0.40 during mid-day trading on Friday, reaching $48.80. The company had a trading volume of 1,739,155 shares, compared to its average volume of 289,511. CNA Financial Co. has a twelve month low of $42.33 and a twelve 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. The company's 50-day moving average is $48.76 and its 200-day moving average is $48.90. The company has a market capitalization of $13.22 billion, a P/E ratio of 13.86, a P/E/G ratio of 9.23 and a beta of 0.68.

CNA Financial (NYSE:CNA - Get Free Report) last issued its earnings results on Monday, February 10th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that CNA Financial Co. will post 4.64 EPS for the current year.

CNA Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.77%. This is a boost from CNA Financial's previous quarterly dividend of $0.44. The ex-dividend date was Monday, February 24th. CNA Financial's dividend payout ratio (DPR) is currently 52.27%.

Insider Activity at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $48.86, for a total transaction of $305,375.00. Following the completion of the sale, the chairman now directly owns 720,442 shares of the company's stock, valued at $35,200,796.12. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Daniel Paul Franzetti sold 12,991 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $49.06, for a total value of $637,338.46. Following the sale, the chief accounting officer now directly owns 75,612 shares of the company's stock, valued at $3,709,524.72. This represents a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

About CNA Financial

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.