Franklin Resources Inc. Has $1.08 Million Holdings in CNA Financial Co. (NYSE:CNA)

Franklin Resources Inc. decreased its position in CNA Financial Co. (NYSE:CNA) by 11.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,741 shares of the insurance provider’s stock after selling 2,768 shares during the period. Franklin Resources Inc.’s holdings in CNA Financial were worth $1,076,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CNA. True Wealth Design LLC acquired a new position in shares of CNA Financial in the 3rd quarter valued at about $36,000. Fairscale Capital LLC bought a new stake in CNA Financial in the second quarter worth approximately $55,000. Abich Financial Wealth Management LLC lifted its stake in CNA Financial by 17.3% in the second quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock valued at $95,000 after buying an additional 303 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of CNA Financial during the 3rd quarter worth approximately $146,000. Finally, US Bancorp DE grew its position in shares of CNA Financial by 26.6% during the 3rd quarter. US Bancorp DE now owns 3,449 shares of the insurance provider’s stock worth $169,000 after buying an additional 725 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CNA shares. Keefe, Bruyette & Woods increased their target price on shares of CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Bank of America raised their target price on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Finally, StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

CNA Financial Stock Performance

CNA opened at $48.40 on Friday. CNA Financial Co. has a 1-year low of $41.64 and a 1-year high of $52.36. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 6.20 and a beta of 0.66. The company’s fifty day moving average price is $48.89 and its two-hundred day moving average price is $48.49. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. The business 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 last year, the firm earned $1.06 EPS. On average, analysts expect that CNA Financial Co. will post 4.68 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were given a dividend of $0.44 per share. The ex-dividend date was Monday, November 18th. This represents a $1.76 annualized dividend and a dividend yield of 3.64%. CNA Financial’s payout ratio is 36.67%.

Insider Buying and Selling

In other CNA Financial news, EVP Douglas Worman sold 22,973 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 133,777 shares of the company’s stock, valued at approximately $6,521,628.75. This represents a 14.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

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.