CNA Financial Co. (NYSE:CNA – Get Free Report) declared a None dividend on Monday, February 5th, Zacks reports. Stockholders of record on Tuesday, February 20th will be given a dividend of 2.44 per share by the insurance provider on Thursday, March 7th. This represents a dividend yield of 3.8%. The ex-dividend date is Friday, February 16th. This is an increase from CNA Financial’s previous None dividend of $1.62.
CNA Financial has raised its dividend payment by an average of 4.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. CNA Financial has a payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CNA Financial to earn $4.64 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 36.2%.
CNA Financial Trading Down 0.6 %
CNA opened at $46.16 on Wednesday. The company has a market cap of $12.50 billion, a P/E ratio of 10.42, a PEG ratio of 1.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.27 and a current ratio of 0.27. CNA Financial has a one year low of $36.17 and a one year high of $46.87. The business’s 50-day simple moving average is $42.78 and its 200-day simple moving average is $40.93.
Hedge Funds Weigh In On CNA Financial
Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in CNA Financial by 6.9% in the 3rd quarter. American Century Companies Inc. now owns 6,188 shares of the insurance provider’s stock valued at $243,000 after purchasing an additional 402 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in CNA Financial during the third quarter worth $447,000. Royal Bank of Canada increased its position in CNA Financial by 6.7% during the third quarter. Royal Bank of Canada now owns 158,309 shares of the insurance provider’s stock worth $6,230,000 after buying an additional 9,888 shares in the last quarter. Ameriprise Financial Inc. increased its position in CNA Financial by 14.7% during the third quarter. Ameriprise Financial Inc. now owns 22,752 shares of the insurance provider’s stock worth $895,000 after buying an additional 2,909 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in CNA Financial by 32.0% during the third quarter. Qube Research & Technologies Ltd now owns 30,207 shares of the insurance provider’s stock worth $1,189,000 after buying an additional 7,323 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CNA has been the subject of a number of recent research reports. StockNews.com cut CNA Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America cut CNA Financial from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $39.00 to $43.00 in a research report on Tuesday.
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.
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