Covestor Ltd Raises Position in CNA Financial Co. (NYSE:CNA)

Covestor Ltd raised its holdings in shares of CNA Financial Co. (NYSE:CNA) by 82.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,971 shares of the insurance provider’s stock after buying an additional 888 shares during the quarter. Covestor Ltd’s holdings in CNA Financial were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Donald Smith & CO. Inc. increased its position in shares of CNA Financial by 20.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,178,228 shares of the insurance provider’s stock worth $49,851,000 after purchasing an additional 199,209 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CNA Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock worth $32,079,000 after buying an additional 7,201 shares during the last quarter. CORDA Investment Management LLC. raised its position in shares of CNA Financial by 0.4% during the 4th quarter. CORDA Investment Management LLC. now owns 631,186 shares of the insurance provider’s stock valued at $26,705,000 after buying an additional 2,775 shares in the last quarter. Norges Bank bought a new stake in shares of CNA Financial during the 4th quarter worth $14,296,000. Finally, Charles Schwab Investment Management Inc. grew its position in CNA Financial by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 336,898 shares of the insurance provider’s stock worth $14,254,000 after acquiring an additional 5,922 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

CNA Financial Trading Up 0.3 %

NYSE:CNA traded up $0.12 during trading hours on Wednesday, hitting $47.39. The company had a trading volume of 61,091 shares, compared to its average volume of 256,251. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50-day moving average price of $45.29 and a 200 day moving average price of $44.56. The company has a market capitalization of $12.86 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.85 and a beta of 0.64. CNA Financial Co. has a 52 week low of $37.95 and a 52 week high of $49.52.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.07). CNA Financial had a net margin of 9.17% and a return on equity of 14.27%. The firm had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. On average, equities research analysts predict that CNA Financial Co. will post 4.96 EPS for the current fiscal year.

CNA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. CNA Financial’s dividend payout ratio is 38.43%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNA shares. Keefe, Bruyette & Woods raised their price objective on CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.

Insider Buying and Selling at CNA Financial

In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $44.78, for a total transaction of $1,043,418.78. Following the completion of the transaction, the chief accounting officer now owns 63,996 shares of the company’s stock, valued at approximately $2,865,740.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.