Russell Investments Group Ltd. Sells 4,426 Shares of CNA Financial Corporation (CNA)
Russell Investments Group Ltd. decreased its position in shares of CNA Financial Corporation (NYSE:CNA) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,263 shares of the insurance provider’s stock after selling 4,426 shares during the period. Russell Investments Group Ltd.’s holdings in CNA Financial Corporation were worth $3,815,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CNA. Elkfork Partners LLC purchased a new stake in CNA Financial Corporation during the first quarter worth about $251,000. Nuance Investments LLC increased its stake in CNA Financial Corporation by 3.4% in the first quarter. Nuance Investments LLC now owns 64,125 shares of the insurance provider’s stock worth $2,832,000 after buying an additional 2,107 shares in the last quarter. Advisors Asset Management Inc. increased its stake in CNA Financial Corporation by 33.0% in the first quarter. Advisors Asset Management Inc. now owns 7,122 shares of the insurance provider’s stock worth $315,000 after buying an additional 1,766 shares in the last quarter. First Trust Advisors LP increased its stake in CNA Financial Corporation by 41.6% in the first quarter. First Trust Advisors LP now owns 581,424 shares of the insurance provider’s stock worth $25,681,000 after buying an additional 170,926 shares in the last quarter. Finally, Capital One National Association purchased a new stake in CNA Financial Corporation during the first quarter worth about $4,929,000. Institutional investors and hedge funds own 99.78% of the company’s stock.
Shares of CNA Financial Corporation (NYSE:CNA) traded up 1.04% on Friday, hitting $50.51. The company had a trading volume of 379,780 shares. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 12.29 and a beta of 1.23. CNA Financial Corporation has a 52 week low of $32.36 and a 52 week high of $53.67. The stock’s 50-day moving average is $50.87 and its 200 day moving average is $46.47.
CNA Financial Corporation (NYSE:CNA) last posted its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.77 EPS. Equities analysts expect that CNA Financial Corporation will post $3.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 10th. This is an increase from CNA Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.38%. CNA Financial Corporation’s dividend payout ratio is currently 29.20%.
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A number of equities research analysts have issued reports on the company. BidaskClub upgraded CNA Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target 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 target 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 and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $47.00.
In other CNA Financial Corporation news, CFO D Craig Mense sold 23,450 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 130,548 shares of the company’s stock, valued at approximately $6,874,657.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.
About CNA Financial Corporation
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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