Brandes Investment Partners LP Raises Holdings in CNA Financial Co. (NYSE:CNA)

Brandes Investment Partners LP grew its stake in CNA Financial Co. (NYSE:CNA) by 38.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,795 shares of the insurance provider’s stock after purchasing an additional 3,578 shares during the period. Brandes Investment Partners LP’s holdings in CNA Financial were worth $589,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of CNA Financial by 97.9% in the 2nd 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 boosted 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 acquiring an additional 334,463 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 worth $32,079,000 after acquiring an additional 7,201 shares in the last quarter. Rhumbline Advisers grew its position in shares of CNA Financial by 570.6% during the 2nd quarter. Rhumbline Advisers now owns 529,862 shares of the insurance provider’s stock valued at $24,411,000 after acquiring an additional 450,843 shares during the period. Finally, Norges Bank purchased a new position in shares of CNA Financial in the 4th quarter valued at about $14,296,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Transactions at CNA Financial

In other news, EVP Mark Steven James sold 18,547 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at $1,159,141.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Jane Elizabeth Possell sold 4,444 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $48.08, for a total value of $213,667.52. Following the completion of the sale, the executive vice president now owns 30,009 shares of the company’s stock, valued at $1,442,832.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 approximately $1,159,141.86. The disclosure for this sale can be found here. Insiders sold 49,151 shares of company stock valued at $2,449,311 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

CNA Financial Stock Up 0.1 %

Shares of NYSE CNA opened at $48.93 on Tuesday. CNA Financial Co. has a 52-week low of $37.95 and a 52-week high of $52.36. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.30. The company’s 50-day simple moving average is $49.67 and its 200-day simple moving average is $46.48. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, July 29th. The insurance provider reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.08 billion. CNA Financial had a return on equity of 14.02% and a net margin of 9.27%. During the same period in the previous year, the business earned $1.13 EPS. Equities analysts predict that CNA Financial Co. will post 4.87 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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.76 annualized dividend and a yield of 3.60%. CNA Financial’s dividend payout ratio (DPR) is presently 38.43%.

Analysts Set New Price Targets

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

About CNA Financial

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.