Stone Ridge Asset Management LLC purchased a new stake in shares of Cna Financial Corp (NYSE:CNA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 38,632 shares of the insurance provider’s stock, valued at approximately $2,049,000.
A number of other hedge funds have also made changes to their positions in CNA. DekaBank Deutsche Girozentrale lifted its position in shares of Cna Financial by 87.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,774 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 1,294 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Cna Financial during the fourth quarter worth $211,000. Magnetar Financial LLC acquired a new position in shares of Cna Financial during the third quarter worth $204,000. SG Americas Securities LLC lifted its position in shares of Cna Financial by 37.9% during the third quarter. SG Americas Securities LLC now owns 4,386 shares of the insurance provider’s stock worth $220,000 after purchasing an additional 1,205 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in shares of Cna Financial during the third quarter worth $244,000. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on CNA. Zacks Investment Research raised shares of Cna Financial from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Friday, November 17th. ValuEngine raised shares of Cna Financial from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.33.
Cna Financial (NYSE:CNA) last posted its earnings results on Monday, February 12th. The insurance provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.23. Cna Financial had a net margin of 9.42% and a return on equity of 7.64%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company posted $0.82 earnings per share. research analysts anticipate that Cna Financial Corp will post 4.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Monday, February 26th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $1.20 annualized dividend and a yield of 2.28%. Cna Financial’s dividend payout ratio is presently 36.25%.
In related news, EVP Larry A. Haefner sold 7,457 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $53.25, for a total value of $397,085.25. Following the sale, the executive vice president now directly owns 42,460 shares of the company’s stock, valued at $2,260,995. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott L. Weber sold 1,486 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $49.83, for a total transaction of $74,047.38. Following the completion of the sale, the executive vice president now directly owns 2,382 shares in the company, valued at $118,695.06. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
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Cna Financial Company Profile
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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