Kornitzer Capital Management Inc. KS acquired a new stake in shares of CNA Financial Corporation (NYSE:CNA – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,490 shares of the insurance provider’s stock, valued at approximately $482,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in CNA Financial by 14.6% in the 4th quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider’s stock valued at $132,941,000 after buying an additional 354,076 shares in the last quarter. First Trust Advisors LP grew its stake in CNA Financial by 31.8% in the fourth quarter. First Trust Advisors LP now owns 1,560,644 shares of the insurance provider’s stock valued at $74,505,000 after acquiring an additional 376,752 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CNA Financial by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 890,953 shares of the insurance provider’s stock valued at $42,534,000 after acquiring an additional 2,348 shares during the period. UBS Group AG increased its holdings in shares of CNA Financial by 25.9% during the fourth quarter. UBS Group AG now owns 867,787 shares of the insurance provider’s stock valued at $41,428,000 after acquiring an additional 178,314 shares in the last quarter. Finally, CORDA Investment Management LLC. increased its holdings in shares of CNA Financial by 2.6% during the fourth quarter. CORDA Investment Management LLC. now owns 720,165 shares of the insurance provider’s stock valued at $34,381,000 after acquiring an additional 18,281 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on CNA shares. Weiss Ratings upgraded CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Zacks Research lowered shares of CNA Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.
CNA Financial Price Performance
CNA Financial stock opened at $51.90 on Tuesday. The company’s 50 day moving average price is $45.61 and its two-hundred day moving average price is $46.80. 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 Corporation has a 52 week low of $41.53 and a 52 week high of $52.86. The stock has a market cap of $14.04 billion, a P/E ratio of 11.61, a P/E/G ratio of 7.07 and a beta of 0.28.
CNA Financial (NYSE:CNA – Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.93 billion. CNA Financial had a net margin of 8.08% and a return on equity of 11.57%. During the same quarter last year, the company earned $1.03 EPS. On average, equities analysts predict that CNA Financial Corporation will post 4.05 earnings per share for the current year.
CNA Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were paid a $0.48 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.92 annualized dividend and a yield of 3.7%. CNA Financial’s dividend payout ratio is presently 42.95%.
CNA Financial Company Profile
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.
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