State Street Corp decreased its stake in CNA Financial Co. (NYSE:CNA – Free Report) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,756 shares of the insurance provider’s stock after selling 32,908 shares during the period. State Street Corp owned 0.17% of CNA Financial worth $22,452,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP increased its position in shares of CNA Financial by 8.8% during the 3rd quarter. Quantinno Capital Management LP now owns 43,582 shares of the insurance provider’s stock worth $2,133,000 after purchasing an additional 3,536 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of CNA Financial in the third quarter valued at $376,000. HighTower Advisors LLC increased its holdings in CNA Financial by 107.1% during the third quarter. HighTower Advisors LLC now owns 22,172 shares of the insurance provider’s stock worth $1,066,000 after buying an additional 11,468 shares during the last quarter. Centiva Capital LP bought a new stake in CNA Financial during the third quarter worth $238,000. Finally, ClearAlpha Technologies LP acquired a new stake in CNA Financial in the third quarter valued at $815,000. Institutional investors own 98.45% of the company’s stock.
Insider Activity
In other news, EVP Douglas Worman sold 22,973 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the transaction, the executive vice president now directly owns 133,777 shares in the company, valued at approximately $6,521,628.75. The trade was a 14.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.
CNA Financial Stock Performance
CNA Financial (NYSE:CNA – Get Free Report) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.15 billion. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. During the same period last year, the firm posted $1.06 EPS. On average, sell-side analysts anticipate that CNA Financial Co. will post 4.68 EPS for the current year.
CNA Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Monday, November 18th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. CNA Financial’s payout ratio is presently 36.67%.
Analyst Ratings Changes
CNA has been the topic of several recent analyst reports. StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Keefe, Bruyette & Woods boosted their price target on 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, Bank of America raised their price objective on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th.
Read Our Latest Stock Analysis on CNA
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.
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