LSV Asset Management Sells 87,915 Shares of CNA Financial Corporation $CNA

LSV Asset Management cut its holdings in CNA Financial Corporation (NYSE:CNA) by 9.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 870,392 shares of the insurance provider’s stock after selling 87,915 shares during the period. LSV Asset Management’s holdings in CNA Financial were worth $40,499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of CNA Financial by 2.0% during the first quarter. Vanguard Group Inc. now owns 556,695 shares of the insurance provider’s stock valued at $28,275,000 after buying an additional 11,019 shares during the last quarter. Jump Financial LLC purchased a new position in CNA Financial in the 1st quarter worth about $911,000. HB Wealth Management LLC lifted its stake in CNA Financial by 104.3% during the 2nd quarter. HB Wealth Management LLC now owns 10,701 shares of the insurance provider’s stock valued at $498,000 after acquiring an additional 5,464 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of CNA Financial by 53.3% during the 1st quarter. GSA Capital Partners LLP now owns 27,132 shares of the insurance provider’s stock valued at $1,378,000 after acquiring an additional 9,430 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of CNA Financial during the 1st quarter valued at about $1,849,000. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $45.28, for a total value of $283,000.00. Following the completion of the transaction, the chairman owned 674,338 shares of the company’s stock, valued at approximately $30,534,024.64. This represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Scott R. Lindquist sold 8,380 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $48.98, for a total value of $410,452.40. Following the completion of the sale, the chief financial officer owned 81,487 shares of the company’s stock, valued at $3,991,233.26. The trade was a 9.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 37,130 shares of company stock valued at $1,776,865. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CNA shares. Weiss Ratings restated a “hold (c+)” rating on shares of CNA Financial in a research report on Thursday, November 13th. Zacks Research upgraded shares of CNA Financial from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Wall Street Zen raised CNA Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

CNA Financial Stock Performance

Shares of CNA opened at $46.29 on Wednesday. The business has a 50-day simple moving average of $45.87 and a two-hundred day simple moving average of $46.41. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.23. CNA Financial Corporation has a 52 week low of $43.29 and a 52 week high of $51.42. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 3.86 and a beta of 0.50.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, November 3rd. The insurance provider reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.25. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.During the same period in the previous year, the firm earned $1.08 EPS. On average, analysts expect that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 17th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, November 17th. CNA Financial’s dividend payout ratio is presently 50.41%.

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.