Victory Capital Management Inc. Lowers Stock Position in CNA Financial Co. (NYSE:CNA)

Victory Capital Management Inc. lessened its position in shares of CNA Financial Co. (NYSE:CNA) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,177 shares of the insurance provider’s stock after selling 4,228 shares during the quarter. Victory Capital Management Inc.’s holdings in CNA Financial were worth $1,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in shares of CNA Financial by 366.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock worth $68,591,000 after acquiring an additional 1,101,217 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $51,760,000 after purchasing an additional 570,172 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CNA Financial by 45.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,068,956 shares of the insurance provider’s stock worth $49,247,000 after buying an additional 334,463 shares during the period. River Road Asset Management LLC raised its stake in shares of CNA Financial by 0.6% during the 3rd quarter. River Road Asset Management LLC now owns 1,012,492 shares of the insurance provider’s stock worth $49,551,000 after buying an additional 5,539 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of CNA Financial by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock valued at $32,079,000 after buying an additional 7,201 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Stock Up 0.2 %

Shares of CNA opened at $49.69 on Tuesday. The stock has a 50 day moving average price of $48.89 and a 200 day moving average price of $47.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 6.35 and a beta of 0.65. CNA Financial Co. has a one year low of $40.92 and a one year high of $52.36.

CNA Financial (NYSE:CNA) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same quarter in the previous year, the company posted $1.06 EPS. Equities research analysts forecast that CNA Financial Co. will post 4.68 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, November 18th. CNA Financial’s dividend payout ratio (DPR) is 36.67%.

Insider Transactions at CNA Financial

In related news, EVP Douglas Worman sold 22,973 shares of CNA Financial stock in a transaction that occurred on 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 owns 133,777 shares in the company, 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 SEC, which can be accessed through this link. Also, EVP Mark Steven James sold 18,547 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.58, for a total value of $938,107.26. Following the transaction, the executive vice president now directly owns 22,917 shares in the company, valued at $1,159,141.86. This trade represents a 44.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

Analysts Set New Price Targets

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

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.