Walleye Capital LLC purchased a new stake in CNA Financial Co. (NYSE:CNA – Get Rating) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 16,055 shares of the insurance provider’s stock, valued at approximately $781,000.
Other hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV bought a new position in CNA Financial in the first quarter valued at about $230,000. Signaturefd LLC boosted its holdings in CNA Financial by 103.5% during the first quarter. Signaturefd LLC now owns 578 shares of the insurance provider’s stock worth $28,000 after buying an additional 294 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in CNA Financial during the first quarter worth about $359,000. Cookson Peirce & Co. Inc. bought a new position in CNA Financial during the first quarter worth about $289,000. Finally, Prana Capital Management LP bought a new position in CNA Financial during the first quarter worth about $2,252,000. Institutional investors own 98.54% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com cut CNA Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 31st.
Insider Activity at CNA Financial
CNA Financial Trading Down 2.0 %
NYSE CNA opened at $38.91 on Wednesday. The firm has a market cap of $10.56 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.07 and a beta of 0.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s 50-day moving average is $40.74 and its 200-day moving average is $44.18. CNA Financial Co. has a one year low of $37.90 and a one year high of $50.33.
CNA Financial (NYSE:CNA – Get Rating) last announced its earnings results on Monday, August 1st. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.13). CNA Financial had a net margin of 8.80% and a return on equity of 9.28%. During the same period last year, the business posted $1.25 earnings per share. Sell-side analysts anticipate that CNA Financial Co. will post 3.7 earnings per share for the current fiscal year.
CNA Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, August 12th. CNA Financial’s dividend payout ratio is presently 41.88%.
CNA Financial Company Profile
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. 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 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 standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
- Get a free copy of the StockNews.com research report on CNA Financial (CNA)
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