Wakefield Asset Management LLLP Takes $418,000 Position in CNA Financial Co. (NYSE:CNA)

Wakefield Asset Management LLLP acquired a new position in CNA Financial Co. (NYSE:CNA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,877 shares of the insurance provider’s stock, valued at approximately $418,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNA. Advisor Group Holdings Inc. grew its stake in CNA Financial by 52.4% in the first quarter. Advisor Group Holdings Inc. now owns 8,517 shares of the insurance provider’s stock worth $414,000 after purchasing an additional 2,928 shares in the last quarter. Bank of Montreal Can bought a new position in CNA Financial in the first quarter worth approximately $215,000. MetLife Investment Management LLC bought a new position in CNA Financial in the first quarter worth approximately $27,000. Rhumbline Advisers grew its stake in CNA Financial by 5.7% in the first quarter. Rhumbline Advisers now owns 22,748 shares of the insurance provider’s stock worth $1,106,000 after purchasing an additional 1,233 shares in the last quarter. Finally, BlackRock Inc. grew its stake in CNA Financial by 8.7% in the first quarter. BlackRock Inc. now owns 1,150,456 shares of the insurance provider’s stock worth $55,935,000 after purchasing an additional 92,007 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

CNA Financial Stock Up 0.9 %

Shares of NYSE CNA opened at $44.08 on Monday. CNA Financial Co. has a 12-month low of $36.41 and a 12-month high of $47.37. The stock’s fifty day simple moving average is $44.52 and its two-hundred day simple moving average is $42.36. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $11.94 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.64.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. CNA Financial had a return on equity of 14.33% and a net margin of 9.06%. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $1.01 EPS. As a group, analysts expect that CNA Financial Co. will post 5.01 EPS for the current fiscal year.

CNA Financial Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a dividend of $2.44 per share. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from CNA Financial’s previous None dividend of $1.62. CNA Financial’s dividend payout ratio is currently 39.73%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNA. Bank of America cut CNA Financial from a “neutral” rating to an “underperform” rating and increased their target price for the company from $39.00 to $43.00 in a research report on Tuesday, February 6th. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods increased their target price on CNA Financial from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Monday, February 12th.

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.