CNA Financial Co. (NYSE:CNA) Sees Significant Increase in Short Interest

CNA Financial Co. (NYSE:CNA) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 813,400 shares, an increase of 19.6% from the November 30th total of 680,100 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average trading volume of 277,600 shares, the days-to-cover ratio is currently 2.9 days.

Analyst Ratings Changes

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

Insider Transactions at CNA Financial

In other news, EVP Douglas Worman sold 22,973 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the transaction, the executive vice president now directly owns 133,777 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC lifted its stake in shares of CNA Financial by 107.1% in the 3rd quarter. HighTower Advisors LLC now owns 22,172 shares of the insurance provider’s stock valued at $1,066,000 after purchasing an additional 11,468 shares during the period. AQR Capital Management LLC raised its holdings in CNA Financial by 97.9% in the second quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock worth $51,760,000 after purchasing an additional 570,172 shares in the last quarter. Creative Planning lifted its position in CNA Financial by 16.5% during the third quarter. Creative Planning now owns 16,067 shares of the insurance provider’s stock valued at $786,000 after buying an additional 2,272 shares during the period. Hsbc Holdings PLC grew its position in shares of CNA Financial by 178.9% in the 2nd quarter. Hsbc Holdings PLC now owns 76,136 shares of the insurance provider’s stock worth $3,505,000 after buying an additional 48,837 shares during the period. Finally, Quest Partners LLC grew its position in shares of CNA Financial by 69.3% in the 3rd quarter. Quest Partners LLC now owns 26,737 shares of the insurance provider’s stock worth $1,309,000 after buying an additional 10,940 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Trading Down 1.1 %

Shares of CNA Financial stock traded down $0.53 during midday trading on Friday, reaching $48.40. 159,778 shares of the company’s stock traded hands, compared to its average volume of 274,698. The stock has a 50 day moving average of $48.89 and a 200-day moving average of $48.49. CNA Financial has a 12 month low of $41.64 and a 12 month high of $52.36. The company has a market cap of $13.11 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26.

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

CNA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders 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 annualized dividend and a yield of 3.64%. CNA Financial’s dividend payout ratio (DPR) is presently 36.67%.

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.