Truist Financial Corp acquired a new position in CNA Financial Co. (NYSE:CNA – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,568 shares of the insurance provider’s stock, valued at approximately $320,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CNA. CENTRAL TRUST Co purchased a new position in shares of CNA Financial in the 4th quarter worth $25,000. Blue Trust Inc. purchased a new position in shares of CNA Financial in the 4th quarter worth $27,000. GAMMA Investing LLC purchased a new position in shares of CNA Financial in the 4th quarter worth $39,000. Allspring Global Investments Holdings LLC purchased a new position in shares of CNA Financial in the 4th quarter worth $48,000. Finally, Covestor Ltd grew its stake in shares of CNA Financial by 36.2% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the insurance provider’s stock worth $75,000 after buying an additional 506 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at CNA Financial
In other news, CAO Daniel Paul Franzetti sold 23,301 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $44.78, for a total value of $1,043,418.78. Following the completion of the sale, the chief accounting officer now owns 63,996 shares in the company, valued at approximately $2,865,740.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.
CNA Financial Price Performance
CNA Financial stock opened at $44.41 on Tuesday. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Co. has a 1 year low of $36.41 and a 1 year high of $47.37. The firm has a 50-day moving average of $44.23 and a two-hundred day moving average of $43.29.
CNA Financial (NYSE:CNA – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.07). The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $2.94 billion. CNA Financial had a net margin of 9.17% and a return on equity of 14.27%. During the same period last year, the firm earned $1.19 earnings per share. On average, research analysts forecast that CNA Financial Co. will post 5 earnings per share for the current year.
CNA Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Monday, May 20th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.96%. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 17th. CNA Financial’s payout ratio is 38.43%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CNA shares. Bank of America cut shares of CNA Financial from a “neutral” rating to an “underperform” rating and lifted their price target for the stock from $39.00 to $43.00 in a research note on Tuesday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of CNA Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Finally, StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.
View Our Latest Analysis on CNA Financial
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.
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Source: defenseworld.net
