Verition Fund Management LLC Takes $520,000 Position in CNA Financial Co. (NYSE:CNA)

Verition Fund Management LLC purchased a new position in CNA Financial Co. (NYSE:CNA) in the third quarter, Holdings Channel reports. The fund purchased 10,617 shares of the insurance provider’s stock, valued at approximately $520,000.

A number of other large investors also recently bought and sold shares of CNA. Raymond James Trust N.A. boosted its holdings in shares of CNA Financial by 4.1% during the 3rd quarter. Raymond James Trust N.A. now owns 6,526 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 260 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in CNA Financial by 17.3% during the second quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 303 shares during the period. Signaturefd LLC grew its stake in shares of CNA Financial by 10.4% in the second quarter. Signaturefd LLC now owns 3,897 shares of the insurance provider’s stock worth $180,000 after acquiring an additional 366 shares in the last quarter. AE Wealth Management LLC raised its holdings in CNA Financial by 1.1% in the second quarter. AE Wealth Management LLC now owns 39,256 shares of the insurance provider’s stock valued at $1,809,000 after acquiring an additional 431 shares in the last quarter. Finally, Wakefield Asset Management LLLP raised its stake in CNA Financial by 4.5% in the second quarter. Wakefield Asset Management LLLP now owns 10,205 shares of the insurance provider’s stock valued at $470,000 after buying an additional 440 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

CNA Financial Stock Up 0.2 %

CNA stock opened at $48.39 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $13.11 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 6.42 and a beta of 0.66. CNA Financial Co. has a one year low of $40.92 and a one year high of $52.36. The company has a fifty day moving average of $49.02 and a 200-day moving average of $48.20.

CNA Financial (NYSE:CNA) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. During the same period in the prior year, the business posted $1.06 EPS. As a group, analysts expect that CNA Financial Co. will post 4.68 EPS for the current year.

CNA Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were issued a $0.44 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.64%. CNA Financial’s dividend payout ratio is presently 36.67%.

Analyst Ratings Changes

Several research analysts have commented on CNA shares. Keefe, Bruyette & Woods lifted their price target on CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. Bank of America upped their price objective on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other news, EVP Douglas Worman sold 22,973 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares in the company, valued at $6,521,628.75. This trade represents a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Steven James sold 18,547 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the sale, the executive vice president now directly owns 22,917 shares in the company, valued at approximately $1,159,141.86. The trade was a 44.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

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.