CNA Financial Corporation (CNA) Position Maintained by CIBC Asset Management Inc
CIBC Asset Management Inc continued to hold its stake in CNA Financial Corporation (NYSE:CNA) during the second quarter, Holdings Channel reports. The firm owned 10,515 shares of the insurance provider’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in CNA Financial Corporation were worth $513,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in CNA. Capital One National Association purchased a new stake in CNA Financial Corporation during the first quarter worth about $4,929,000. LSV Asset Management increased its stake in CNA Financial Corporation by 17.3% in the first quarter. LSV Asset Management now owns 1,352,502 shares of the insurance provider’s stock worth $59,740,000 after buying an additional 199,443 shares in the last quarter. Heartland Advisors Inc. increased its stake in CNA Financial Corporation by 6.4% in the first quarter. Heartland Advisors Inc. now owns 10,642 shares of the insurance provider’s stock worth $470,000 after buying an additional 638 shares in the last quarter. KAMES CAPITAL plc purchased a new stake in CNA Financial Corporation during the first quarter worth about $650,000. Finally, Breton Hill Capital Ltd. purchased a new stake in CNA Financial Corporation during the first quarter worth about $1,087,000. Institutional investors and hedge funds own 99.78% of the company’s stock.
CNA Financial Corporation (CNA) opened at 52.45 on Wednesday. CNA Financial Corporation has a 52 week low of $32.03 and a 52 week high of $53.67. The company has a market capitalization of $14.21 billion, a P/E ratio of 12.76 and a beta of 1.23. The company’s 50 day moving average price is $50.34 and its 200-day moving average price is $45.99.
CNA Financial Corporation (NYSE:CNA) last posted its earnings results on Monday, July 31st. The insurance provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.75 by $0.13. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.35 billion. CNA Financial Corporation had a return on equity of 8.40% and a net margin of 11.72%. During the same period last year, the company earned $0.77 earnings per share. Equities research analysts expect that CNA Financial Corporation will post $3.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Monday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.29%. This is a positive change from CNA Financial Corporation’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Thursday, August 10th. CNA Financial Corporation’s dividend payout ratio (DPR) is 29.20%.
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A number of research analysts recently issued reports on CNA shares. BidaskClub upgraded CNA Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price objective on shares of CNA Financial Corporation in a research note on Thursday, August 3rd. Zacks Investment Research downgraded CNA Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Deutsche Bank AG downgraded CNA Financial Corporation from a “buy” rating to a “hold” rating and boosted their price objective for the company from $45.00 to $46.00 in a research note on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.00.
In related news, CFO D Craig Mense sold 23,450 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $52.66, for a total transaction of $1,234,877.00. Following the sale, the chief financial officer now directly owns 130,548 shares of the company’s stock, valued at $6,874,657.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.
CNA Financial Corporation Company Profile
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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