International Assets Investment Management LLC bought a new stake in CNA Financial Co. (NYSE:CNA – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 118,114 shares of the insurance provider’s stock, valued at approximately $123,000.
Several other hedge funds have also made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in CNA Financial by 258.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 555 shares of the insurance provider’s stock worth $26,000 after buying an additional 400 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of CNA Financial during the first quarter worth $27,000. Credit Suisse AG purchased a new position in CNA Financial in the second quarter valued at $38,000. Northwestern Mutual Wealth Management Co. acquired a new position in CNA Financial during the 4th quarter worth $38,000. Finally, Quent Capital LLC increased its holdings in CNA Financial by 149.6% during the 1st quarter. Quent Capital LLC now owns 1,425 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 854 shares during the period. Institutional investors and hedge funds own 98.31% of the company’s stock.
CNA Financial Trading Down 0.5 %
CNA opened at $38.66 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.25 and a current ratio of 0.25. CNA Financial Co. has a one year low of $35.90 and a one year high of $45.42. The company has a market cap of $10.47 billion, a P/E ratio of 12.01, a PEG ratio of 1.81 and a beta of 0.65. The business’s 50-day simple moving average is $38.83 and its 200-day simple moving average is $40.49.
CNA Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were issued a dividend of $0.42 per share. This is a positive change from CNA Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.68 annualized dividend and a dividend yield of 4.35%. CNA Financial’s dividend payout ratio (DPR) is presently 52.17%.
Analysts Set New Price Targets
A number of brokerages have recently commented on CNA. Bank of America raised CNA Financial from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $41.00 in a research report on Wednesday, May 3rd. StockNews.com assumed coverage on shares of CNA Financial in a report on Thursday, May 18th. They issued a “buy” rating on the stock.
Insider Transactions at CNA Financial
In other news, major shareholder Corp Loews purchased 4,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $39.79 per share, for a total transaction of $190,992.00. Following the purchase, the insider now directly owns 243,958,688 shares of the company’s stock, valued at approximately $9,707,116,195.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.
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.
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