Federated Hermes Inc. Buys New Holdings in CNA Financial Co. (NYSE:CNA)

Federated Hermes Inc. purchased a new position in CNA Financial Co. (NYSE:CNA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,981 shares of the insurance provider’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in shares of CNA Financial by 570.6% in the second quarter. Rhumbline Advisers now owns 529,862 shares of the insurance provider’s stock worth $24,411,000 after buying an additional 450,843 shares during the period. Norges Bank purchased a new position in shares of CNA Financial in the fourth quarter valued at about $14,296,000. Bank of New York Mellon Corp raised its stake in shares of CNA Financial by 45.5% during the second quarter. Bank of New York Mellon Corp now owns 1,068,956 shares of the insurance provider’s stock valued at $49,247,000 after acquiring an additional 334,463 shares during the last quarter. American Century Companies Inc. raised its stake in shares of CNA Financial by 786.5% during the second quarter. American Century Companies Inc. now owns 153,669 shares of the insurance provider’s stock valued at $7,080,000 after acquiring an additional 136,334 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of CNA Financial by 229.0% during the first quarter. Edgestream Partners L.P. now owns 113,901 shares of the insurance provider’s stock worth $5,173,000 after purchasing an additional 79,280 shares during the period. Institutional investors own 98.45% of the company’s stock.

CNA Financial Price Performance

Shares of NYSE CNA opened at $49.78 on Tuesday. The company has a 50 day simple moving average of $49.59 and a two-hundred day simple moving average of $46.32. CNA Financial Co. has a fifty-two week low of $37.95 and a fifty-two week high of $52.36. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 3.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.27 and a current ratio of 0.27.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. CNA Financial had a return on equity of 14.02% and a net margin of 9.27%. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. Analysts expect that CNA Financial Co. will post 4.86 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, August 12th. CNA Financial’s dividend payout ratio (DPR) is 38.43%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on CNA Financial from $48.00 to $53.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st.

Insider Buying and Selling at CNA Financial

In related news, EVP Mark Steven James sold 18,547 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.58, for a total transaction of $938,107.26. Following the transaction, the executive vice president now owns 22,917 shares in the company, valued at $1,159,141.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jane Elizabeth Possell sold 4,444 shares of CNA Financial stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $48.08, for a total transaction of $213,667.52. Following the transaction, the executive vice president now directly owns 30,009 shares of the company’s stock, valued at approximately $1,442,832.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Steven James sold 18,547 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the sale, the executive vice president now directly owns 22,917 shares of the company’s stock, valued at $1,159,141.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,151 shares of company stock worth $2,449,311. Company insiders own 0.30% of the company’s stock.

CNA Financial 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.