CNA Financial (NYSE:CNA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

CNA Financial Corporation (NYSE:CNA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $46.48 and traded as high as $48.44. CNA Financial shares last traded at $48.38, with a volume of 663,314 shares trading hands.

Wall Street Analyst Weigh In

CNA has been the topic of several research reports. Weiss Ratings cut CNA Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Zacks Research lowered CNA Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

CNA Financial Trading Up 3.1%

The stock has a market cap of $13.09 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 6.51 and a beta of 0.30. The firm’s 50 day simple moving average is $45.03 and its two-hundred day simple moving average is $46.48. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.27.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.47). CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, equities research analysts predict that CNA Financial Corporation will post 4.03 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, May 18th. This represents a $1.92 annualized dividend and a yield of 4.0%. CNA Financial’s dividend payout ratio is 42.95%.

Hedge Funds Weigh In On CNA Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its position in CNA Financial by 125.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 164,121 shares of the insurance provider’s stock valued at $7,625,000 after purchasing an additional 91,205 shares during the last quarter. First Trust Advisors LP grew its position in CNA Financial by 15.2% in the 3rd quarter. First Trust Advisors LP now owns 1,183,892 shares of the insurance provider’s stock worth $55,004,000 after purchasing an additional 156,077 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in CNA Financial in the 3rd quarter worth about $1,092,000. Assenagon Asset Management S.A. acquired a new stake in shares of CNA Financial in the fourth quarter valued at approximately $2,632,000. Finally, Capula Management Ltd increased its stake in shares of CNA Financial by 24.6% in the third quarter. Capula Management Ltd now owns 109,529 shares of the insurance provider’s stock valued at $5,089,000 after purchasing an additional 21,591 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About CNA Financial

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.