Raymond James & Associates Lowers Holdings in CNA Financial Co. (NYSE:CNA)

Posted by on May 17th, 2023

Raymond James & Associates trimmed its holdings in CNA Financial Co. (NYSE:CNA – Get Rating) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 328,208 shares of the insurance provider’s stock after selling 3,492 shares during the quarter. Raymond James & Associates owned 0.12% of CNA Financial worth $13,877,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in CNA Financial by 258.1% in the first quarter. Geneos Wealth Management Inc. now owns 555 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 400 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of CNA Financial during the 1st quarter worth about $27,000. Wipfli Financial Advisors LLC purchased a new stake in shares of CNA Financial during the 3rd quarter worth about $35,000. Credit Suisse AG purchased a new stake in shares of CNA Financial during the 2nd quarter worth about $38,000. Finally, Captrust Financial Advisors boosted its stake in shares of CNA Financial by 263.6% during the 1st quarter. Captrust Financial Advisors now owns 1,378 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 999 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNA has been the topic of several recent analyst reports. StockNews.com initiated coverage on shares of CNA Financial in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Bank of America raised shares of CNA Financial from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $40.00 to $41.00 in a research note on Wednesday, May 3rd.

CNA Financial Trading Down 1.1 %

Shares of CNA Financial stock opened at $39.32 on Wednesday. The firm has a market capitalization of $10.65 billion, a PE ratio of 12.21, a P/E/G ratio of 1.86 and a beta of 0.64. CNA Financial Co. has a twelve month low of $35.90 and a twelve month high of $46.52. The firm’s 50-day moving average price is $39.03 and its 200 day moving average price is $41.31. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.29.

CNA Financial (NYSE:CNA – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The insurance provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.75 billion. CNA Financial had a net margin of 7.23% and a return on equity of 12.05%. During the same period in the prior year, the business posted $1.16 earnings per share. On average, sell-side analysts predict that CNA Financial Co. will post 4.31 EPS for the current fiscal year.

CNA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued a $0.42 dividend. This is an increase from CNA Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.68 dividend on an annualized basis and a yield of 4.27%. CNA Financial’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling at CNA Financial

In other CNA Financial news, major shareholder Corp Loews acquired 34,996 shares of the business’s stock in a transaction on Monday, May 1st. The stock was bought at an average price of $38.93 per share, for a total transaction of $1,362,394.28. Following the acquisition, the insider now owns 243,918,659 shares in the company, valued at $9,495,753,394.87. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is owned by insiders.

About CNA Financial

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CNA Financial Corp. engages in the provision of insurance holdings. It operates through the following business segments: Specialty, Commercial, and International. The Specialty segment provides professional, financial, and specialty property and casualty products and services. The Commercial segment includes property and casualty coverages sold to small businesses and middle market entities and organizations primarily through an independent agency distribution system.

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Institutional Ownership by Quarter for CNA Financial (NYSE:CNA)

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