Convergence Financial LLC Acquires 4,400 Shares of CNA Financial Corporation $CNA

Convergence Financial LLC grew its holdings in shares of CNA Financial Corporation (NYSE:CNA) by 83.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,691 shares of the insurance provider’s stock after buying an additional 4,400 shares during the quarter. Convergence Financial LLC’s holdings in CNA Financial were worth $451,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hexagon Capital Partners LLC increased its position in shares of CNA Financial by 56.4% in the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 225 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of CNA Financial by 240.3% during the 2nd quarter. IFP Advisors Inc now owns 878 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 620 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in CNA Financial in the 1st quarter valued at $158,000. Signaturefd LLC boosted its position in CNA Financial by 7.7% during the second quarter. Signaturefd LLC now owns 3,680 shares of the insurance provider’s stock worth $171,000 after purchasing an additional 264 shares during the period. Finally, US Bancorp DE raised its position in shares of CNA Financial by 12.4% in the first quarter. US Bancorp DE now owns 4,164 shares of the insurance provider’s stock valued at $211,000 after purchasing an additional 461 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

CNA Financial Stock Performance

NYSE:CNA opened at $44.31 on Wednesday. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 3.86 and a beta of 0.50. CNA Financial Corporation has a fifty-two week low of $43.29 and a fifty-two week high of $51.42. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a fifty day moving average price of $46.49 and a 200-day moving average price of $46.57.

CNA Financial (NYSE:CNA) last released its earnings results on Monday, November 3rd. The insurance provider reported $1.50 EPS for the quarter, beating the consensus estimate of $1.25 by $0.25. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $2.84 billion. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. During the same period last year, the firm earned $1.08 EPS. As a group, equities analysts anticipate that CNA Financial Corporation will post 4.64 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 17th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.2%. CNA Financial’s dividend payout ratio is 50.41%.

Wall Street Analyst Weigh In

CNA has been the topic of several research analyst reports. Zacks Research raised shares of CNA Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings upgraded CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $53.00.

Insider Buying and Selling

In related news, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $45.28, for a total transaction of $283,000.00. Following the completion of the transaction, the chairman directly owned 674,338 shares in the company, valued at $30,534,024.64. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott R. Lindquist sold 8,380 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $48.98, for a total transaction of $410,452.40. Following the completion of 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 37,130 shares of company stock worth $1,776,865. 0.36% of the stock is currently owned by corporate insiders.

CNA Financial Profile

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.