Meeder Asset Management Inc. grew its stake in shares of CNA Financial Co. (NYSE:CNA) by 1,747.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,644 shares of the insurance provider’s stock after acquiring an additional 1,555 shares during the quarter. Meeder Asset Management Inc.’s holdings in CNA Financial were worth $73,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in CNA. Price T Rowe Associates Inc. MD lifted its position in shares of CNA Financial by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,898,713 shares of the insurance provider’s stock worth $229,814,000 after buying an additional 163,232 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of CNA Financial by 41.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,611,111 shares of the insurance provider’s stock valued at $62,770,000 after buying an additional 470,241 shares during the period. BlackRock Inc. increased its stake in shares of CNA Financial by 5.9% in the fourth quarter. BlackRock Inc. now owns 1,124,929 shares of the insurance provider’s stock valued at $43,827,000 after buying an additional 62,694 shares during the period. Bank of New York Mellon Corp increased its stake in shares of CNA Financial by 22.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,035,807 shares of the insurance provider’s stock valued at $40,354,000 after buying an additional 192,798 shares during the period. Finally, Private Management Group Inc. grew its stake in CNA Financial by 1.5% during the fourth quarter. Private Management Group Inc. now owns 962,448 shares of the insurance provider’s stock worth $37,497,000 after purchasing an additional 14,470 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.
In other CNA Financial news, EVP Douglas Worman sold 9,298 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The stock was sold at an average price of $45.59, for a total value of $423,895.82. Also, EVP Daniel Paul Franzetti sold 9,486 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $48.10, for a total value of $456,276.60. Following the completion of the transaction, the executive vice president now owns 37,451 shares in the company, valued at approximately $1,801,393.10. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
CNA Financial (NYSE:CNA) last announced its quarterly earnings data on Sunday, May 2nd. The insurance provider reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.01. CNA Financial had a return on equity of 5.75% and a net margin of 5.41%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Equities analysts expect that CNA Financial Co. will post 2.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 3rd. Shareholders of record on Monday, May 17th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, May 14th. This represents a $1.52 dividend on an annualized basis and a yield of 3.18%. CNA Financial’s dividend payout ratio (DPR) is presently 42.34%.
Several research firms recently commented on CNA. Keefe, Bruyette & Woods raised CNA Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $41.00 to $52.00 in a research note on Thursday, February 18th. Zacks Investment Research raised CNA Financial from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, February 10th.
CNA Financial Profile
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. 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 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 standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
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