Martingale Asset Management L P boosted its stake in CNA Financial Co. (NYSE:CNA – Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,169 shares of the insurance provider’s stock after purchasing an additional 4,958 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of CNA Financial worth $7,617,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CNA. Ethic Inc. bought a new position in shares of CNA Financial in the first quarter valued at approximately $257,000. Dark Forest Capital Management LP boosted its holdings in CNA Financial by 22,508.7% in the 1st quarter. Dark Forest Capital Management LP now owns 5,200 shares of the insurance provider’s stock valued at $203,000 after purchasing an additional 5,177 shares during the period. Greenwood Capital Associates LLC boosted its stake in CNA Financial by 12.4% during the first quarter. Greenwood Capital Associates LLC now owns 18,791 shares of the insurance provider’s stock valued at $733,000 after buying an additional 2,071 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of CNA Financial by 6.4% in the 1st quarter. Panagora Asset Management Inc. now owns 21,796 shares of the insurance provider’s stock valued at $851,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CNA Financial by 3.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 322,312 shares of the insurance provider’s stock worth $12,580,000 after purchasing an additional 12,098 shares in the last quarter. Hedge funds and other institutional investors own 98.44% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on CNA. Keefe, Bruyette & Woods cut CNA Financial from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. StockNews.com started coverage on CNA Financial in a research note on Thursday, August 17th. They issued a “buy” rating for the company.
Read Our Latest Stock Analysis on CNA Financial
Insider Buying and Selling
In other news, major shareholder Corp Loews purchased 4,456,050 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $39.29 per share, with a total value of $175,078,204.50. Following the transaction, the insider now directly owns 248,414,738 shares of the company’s stock, valued at approximately $9,760,215,056.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.
CNA Financial Trading Up 0.9 %
CNA Financial stock traded up $0.34 during mid-day trading on Friday, hitting $39.67. The company’s stock had a trading volume of 14,902 shares, compared to its average volume of 205,306. The business has a 50 day moving average price of $39.41 and a 200-day moving average price of $39.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Co. has a 12 month low of $35.90 and a 12 month high of $45.42. The stock has a market cap of $10.75 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.81 and a beta of 0.65.
CNA Financial (NYSE:CNA – Get Free Report) last released its earnings results on Monday, July 31st. The insurance provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $2.80 billion. CNA Financial had a net margin of 7.63% and a return on equity of 13.06%. During the same period last year, the firm posted $0.90 EPS. As a group, analysts forecast that CNA Financial Co. will post 4.33 EPS for the current year.
CNA Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 14th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Friday, August 11th. CNA Financial’s dividend payout ratio is 47.86%.
CNA Financial 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.
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