Kiker Wealth Management LLC acquired a new stake in shares of CNA Financial Corporation (NYSE:CNA – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,026 shares of the insurance provider’s stock, valued at approximately $560,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNA. GAMMA Investing LLC increased its position in CNA Financial by 10.3% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 211 shares during the period. SG Americas Securities LLC acquired a new position in CNA Financial during the 1st quarter worth approximately $470,000. Wealth Enhancement Advisory Services LLC increased its position in CNA Financial by 37.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,934 shares of the insurance provider’s stock worth $1,419,000 after purchasing an additional 7,665 shares during the period. Cyndeo Wealth Partners LLC increased its position in CNA Financial by 10.2% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 145,700 shares of the insurance provider’s stock worth $7,400,000 after purchasing an additional 13,441 shares during the period. Finally, Longboard Asset Management LP acquired a new position in CNA Financial during the 1st quarter worth approximately $207,000. Institutional investors and hedge funds own 98.45% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of CNA Financial in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $53.00.
CNA Financial Stock Performance
CNA opened at $46.54 on Tuesday. The stock has a market cap of $12.60 billion, a P/E ratio of 14.50, a P/E/G ratio of 4.16 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $47.38 and its 200 day simple moving average is $46.91. CNA Financial Corporation has a 1-year low of $43.29 and a 1-year high of $51.42.
CNA Financial (NYSE:CNA – Get Free Report) last released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.29. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.76 billion. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.During the same quarter in the prior year, the firm posted $1.19 EPS. As a group, equities analysts anticipate that CNA Financial Corporation will post 4.64 EPS for the current fiscal year.
CNA Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a $0.46 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.0%. CNA Financial’s dividend payout ratio is currently 57.32%.
Insider Buying and Selling
In related news, CFO Scott R. Lindquist sold 8,380 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $48.98, for a total value of $410,452.40. Following the sale, the chief financial officer owned 81,487 shares in the company, valued at $3,991,233.26. This represents a 9.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $46.25, for a total value of $289,062.50. Following the completion of the sale, the chairman owned 680,588 shares in the company, valued at approximately $31,477,195. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,880 shares of company stock worth $1,493,865. Insiders own 0.36% of the company’s stock.
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.
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