Wells Fargo & Company MN grew its holdings in shares of Cna Financial Corp (NYSE:CNA) by 69.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,188 shares of the insurance provider’s stock after purchasing an additional 35,431 shares during the quarter. Wells Fargo & Company MN’s holdings in Cna Financial were worth $4,058,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. First Trust Advisors LP increased its position in shares of Cna Financial by 20.6% during the 1st quarter. First Trust Advisors LP now owns 856,594 shares of the insurance provider’s stock valued at $37,133,000 after purchasing an additional 146,529 shares during the last quarter. Hamlin Capital Management LLC purchased a new stake in Cna Financial in the 2nd quarter worth about $27,020,000. Raymond James & Associates increased its holdings in Cna Financial by 29.6% in the 1st quarter. Raymond James & Associates now owns 385,434 shares of the insurance provider’s stock worth $16,709,000 after acquiring an additional 88,046 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Cna Financial by 1.7% in the 1st quarter. New York State Common Retirement Fund now owns 228,200 shares of the insurance provider’s stock worth $9,892,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Gradient Investments LLC increased its holdings in Cna Financial by 10.2% in the 2nd quarter. Gradient Investments LLC now owns 187,939 shares of the insurance provider’s stock worth $8,846,000 after acquiring an additional 17,368 shares during the last quarter. 99.14% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded Cna Financial from a “hold” rating to a “sell” rating and set a $49.00 target price for the company. in a research note on Tuesday, August 6th.
NYSE CNA traded up $0.12 during trading hours on Friday, hitting $49.57. The company had a trading volume of 1,544 shares, compared to its average volume of 138,152. Cna Financial Corp has a 52 week low of $41.49 and a 52 week high of $49.73. The firm has a 50 day simple moving average of $47.57 and a 200 day simple moving average of $46.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $13.43 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.37 and a beta of 0.82.
Cna Financial (NYSE:CNA) last issued its earnings results on Monday, August 5th. The insurance provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.02 by $0.06. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.35 billion. Cna Financial had a return on equity of 7.83% and a net margin of 8.44%. During the same quarter last year, the company earned $0.99 EPS. On average, research analysts forecast that Cna Financial Corp will post 4.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were given a dividend of $0.35 per share. The ex-dividend date was Friday, August 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.82%. Cna Financial’s dividend payout ratio (DPR) is presently 45.16%.
Cna Financial Profile
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It 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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