Parametrica Management Ltd purchased a new position in Cna Financial Corp (NYSE:CNA) in the 1st quarter, Holdings Channel reports. The fund purchased 7,490 shares of the insurance provider’s stock, valued at approximately $325,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. LSV Asset Management increased its holdings in Cna Financial by 0.9% in the 4th quarter. LSV Asset Management now owns 1,565,779 shares of the insurance provider’s stock worth $69,129,000 after buying an additional 14,500 shares in the last quarter. BlackRock Inc. increased its holdings in Cna Financial by 0.7% in the 4th quarter. BlackRock Inc. now owns 1,144,453 shares of the insurance provider’s stock worth $50,527,000 after buying an additional 7,950 shares in the last quarter. River Road Asset Management LLC increased its holdings in Cna Financial by 17.8% in the 1st quarter. River Road Asset Management LLC now owns 749,838 shares of the insurance provider’s stock worth $32,505,000 after buying an additional 113,106 shares in the last quarter. Norges Bank bought a new stake in Cna Financial in the 4th quarter worth about $19,891,000. Finally, Raymond James & Associates increased its holdings in Cna Financial by 29.6% in the 1st quarter. Raymond James & Associates now owns 385,434 shares of the insurance provider’s stock worth $16,709,000 after buying an additional 88,046 shares in the last quarter. 99.60% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded Cna Financial from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th.
In other Cna Financial news, CEO Dino Robusto sold 1,094 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $45.65, for a total transaction of $49,941.10. Following the completion of the sale, the chief executive officer now directly owns 302,384 shares in the company, valued at approximately $13,803,829.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew J. Pinkes sold 7,132 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $45.79, for a total value of $326,574.28. Following the sale, the executive vice president now owns 62,137 shares of the company’s stock, valued at $2,845,253.23. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.
NYSE CNA opened at $46.04 on Friday. Cna Financial Corp has a one year low of $41.49 and a one year high of $49.76. The stock has a market capitalization of $12.31 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.23.
Cna Financial (NYSE:CNA) last released its quarterly earnings results on Monday, April 29th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.35 billion. Cna Financial had a return on equity of 7.74% and a net margin of 8.39%. During the same period in the previous year, the company posted $1.07 EPS. On average, sell-side analysts expect that Cna Financial Corp will post 4.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, May 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.04%. Cna Financial’s dividend payout ratio is currently 45.16%.
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About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It 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 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 standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
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