Prudential Financial Inc. increased its holdings in CNA Financial Corporation (NYSE:CNA) by 75.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,511 shares of the insurance provider’s stock after buying an additional 62,626 shares during the period. Prudential Financial Inc. owned 0.05% of CNA Financial Corporation worth $7,094,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Blair William & Co. IL boosted its holdings in CNA Financial Corporation by 1.4% in the 2nd quarter. Blair William & Co. IL now owns 6,484 shares of the insurance provider’s stock worth $316,000 after buying an additional 89 shares during the period. Parallel Advisors LLC boosted its holdings in CNA Financial Corporation by 3.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock worth $163,000 after buying an additional 110 shares during the period. Principal Financial Group Inc. boosted its holdings in CNA Financial Corporation by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 6,228 shares of the insurance provider’s stock worth $275,000 after buying an additional 219 shares during the period. SG Americas Securities LLC boosted its holdings in CNA Financial Corporation by 6.1% in the 1st quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock worth $173,000 after buying an additional 224 shares during the period. Finally, Rhumbline Advisers boosted its holdings in CNA Financial Corporation by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 39,762 shares of the insurance provider’s stock worth $1,938,000 after buying an additional 606 shares during the period. 99.56% of the stock is owned by institutional investors.
CNA Financial Corporation (NYSE CNA) opened at 48.38 on Friday. The company has a market capitalization of $13.11 billion, a P/E ratio of 11.77 and a beta of 1.24. The company has a 50-day moving average of $50.60 and a 200 day moving average of $47.05. CNA Financial Corporation has a 12-month low of $32.50 and a 12-month high of $53.67.
CNA Financial Corporation (NYSE:CNA) last announced its earnings results on Monday, July 31st. The insurance provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.13. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.35 billion. CNA Financial Corporation had a net margin of 11.72% and a return on equity of 8.40%. During the same period in the prior year, the company earned $0.77 earnings per share. Equities research analysts forecast that CNA Financial Corporation will post $3.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Monday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This is a boost from CNA Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.48%. CNA Financial Corporation’s dividend payout ratio is 29.20%.
In other news, CFO D Craig Mense sold 23,450 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $52.66, for a total value of $1,234,877.00. Following the completion of the sale, the chief financial officer now directly owns 130,548 shares of the company’s stock, valued at $6,874,657.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.
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Several research firms recently commented on CNA. Zacks Investment Research downgraded shares of CNA Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub downgraded shares of CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of CNA Financial Corporation in a report on Thursday, August 3rd. Finally, ValuEngine raised shares of CNA Financial Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.00.
About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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