CNA Financial Co. (NYSE:CNA) Sees Significant Increase in Short Interest

CNA Financial Co. (NYSE:CNA) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 917,400 shares, an increase of 12.8% from the December 31st total of 813,400 shares. Based on an average daily trading volume, of 260,200 shares, the days-to-cover ratio is presently 3.5 days. Approximately 0.3% of the shares of the company are sold short.

Insider Transactions at CNA Financial

In other news, EVP Douglas Worman sold 22,973 shares of the 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 owns 133,777 shares in the company, valued at $6,521,628.75. This represents a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

Institutional Trading of CNA Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in CNA Financial by 366.7% during the third quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock valued at $68,591,000 after purchasing an additional 1,101,217 shares during the period. Jane Street Group LLC raised its position in shares of CNA Financial by 158.0% in the third quarter. Jane Street Group LLC now owns 288,443 shares of the insurance provider’s stock valued at $14,116,000 after purchasing an additional 176,649 shares during the period. Edgestream Partners L.P. bought a new position in shares of CNA Financial in the third quarter valued at about $7,585,000. Cyndeo Wealth Partners LLC acquired a new stake in CNA Financial in the 3rd quarter worth about $6,093,000. Finally, Ieq Capital LLC increased its holdings in CNA Financial by 276.3% in the 4th quarter. Ieq Capital LLC now owns 82,893 shares of the insurance provider’s stock valued at $4,010,000 after buying an additional 60,867 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

CNA Financial Stock Performance

Shares of CNA traded down $0.17 during midday trading on Monday, reaching $48.89. 207,791 shares of the stock were exchanged, compared to its average volume of 219,138. The business’s 50-day moving average price is $48.64 and its 200 day moving average price is $49.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.26 and a quick ratio of 0.26. CNA Financial has a twelve month low of $42.33 and a twelve month high of $52.36. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 10.19 and a beta of 0.66.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the company earned $1.06 EPS. On average, sell-side analysts expect that CNA Financial will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CNA. Keefe, Bruyette & Woods reduced their price target on shares of CNA Financial from $55.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Finally, Bank of America boosted their price target on CNA Financial from $45.00 to $48.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th.

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.