Hsbc Holdings PLC decreased its stake in shares of CNA Financial Corporation (NYSE:CNA – Free Report) by 87.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,240 shares of the insurance provider’s stock after selling 107,653 shares during the quarter. Hsbc Holdings PLC’s holdings in CNA Financial were worth $727,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in CNA. Millennium Management LLC increased its holdings in shares of CNA Financial by 409.1% during the third quarter. Millennium Management LLC now owns 604,963 shares of the insurance provider’s stock valued at $28,107,000 after acquiring an additional 486,127 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in CNA Financial by 1,509,521.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 483,079 shares of the insurance provider’s stock worth $23,062,000 after purchasing an additional 483,047 shares in the last quarter. M&T Bank Corp boosted its stake in CNA Financial by 8,100.7% in the 4th quarter. M&T Bank Corp now owns 484,580 shares of the insurance provider’s stock worth $23,134,000 after purchasing an additional 478,671 shares in the last quarter. First Trust Advisors LP grew its position in CNA Financial by 31.8% during the 4th quarter. First Trust Advisors LP now owns 1,560,644 shares of the insurance provider’s stock valued at $74,505,000 after purchasing an additional 376,752 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in CNA Financial by 14.6% during 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 purchasing an additional 354,076 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.
Wall Street Analysts Forecast Growth
CNA has been the subject of a number of analyst reports. Zacks Research lowered shares of CNA Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.
CNA Financial Price Performance
Shares of CNA opened at $50.77 on Wednesday. The firm has a market cap of $13.73 billion, a PE ratio of 11.36, a P/E/G ratio of 7.15 and a beta of 0.28. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $45.74 and a two-hundred day simple moving average of $46.82. CNA Financial Corporation has a 1-year low of $41.53 and a 1-year high of $52.86.
CNA Financial (NYSE:CNA – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.47). The firm had revenue of $3.68 billion for 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 period in the previous year, the company earned $1.03 earnings per share. On average, equities analysts anticipate that CNA Financial Corporation will post 4.05 EPS for the current year.
CNA Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. CNA Financial’s dividend payout ratio is currently 42.95%.
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.
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