Northern Trust Corp increased its stake in shares of Cna Financial Corp (NYSE:CNA) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,107 shares of the insurance provider’s stock after purchasing an additional 19,012 shares during the quarter. Northern Trust Corp owned about 0.09% of Cna Financial worth $10,876,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNA. Millennium Management LLC grew its stake in shares of Cna Financial by 1,475.5% during the second quarter. Millennium Management LLC now owns 414,898 shares of the insurance provider’s stock valued at $18,953,000 after purchasing an additional 388,564 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Cna Financial by 43.9% during the first quarter. Allianz Asset Management GmbH now owns 657,337 shares of the insurance provider’s stock valued at $32,439,000 after purchasing an additional 200,582 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Cna Financial by 43.5% during the second quarter. Renaissance Technologies LLC now owns 640,200 shares of the insurance provider’s stock valued at $29,244,000 after purchasing an additional 194,100 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Cna Financial by 26.1% during the second quarter. First Trust Advisors LP now owns 800,745 shares of the insurance provider’s stock valued at $36,578,000 after purchasing an additional 165,647 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Cna Financial during the second quarter valued at approximately $6,480,000. 99.52% of the stock is currently owned by institutional investors and hedge funds.
In other Cna Financial news, EVP Larry A. Haefner sold 11,358 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $47.73, for a total value of $542,117.34. Following the transaction, the executive vice president now directly owns 58,007 shares of the company’s stock, valued at $2,768,674.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Cna Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. ValuEngine cut shares of Cna Financial from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd.
Shares of CNA stock opened at $48.27 on Friday. Cna Financial Corp has a 52-week low of $41.92 and a 52-week high of $55.39. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 2.28 and a beta of 1.05. The company has a current ratio of 0.24, a quick ratio of 0.25 and a debt-to-equity ratio of 0.23.
Cna Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, November 5th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.10. Cna Financial had a net margin of 11.00% and a return on equity of 9.91%. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the firm earned $0.58 earnings per share. As a group, equities analysts anticipate that Cna Financial Corp will post 4.17 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 5th. Shareholders of record on Monday, November 19th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. Cna Financial’s payout ratio is presently 41.42%.
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About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company's property insurance products include property, marine, boiler, and machinery coverages; and casualty insurance products comprise workers compensation, general and product liability, commercial auto, and umbrella coverages.
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