Stone Ridge Asset Management LLC Takes Position in Cna Financial Corp (CNA)
Stone Ridge Asset Management LLC purchased a new stake in Cna Financial Corp (NYSE:CNA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,632 shares of the insurance provider’s stock, valued at approximately $2,049,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Guggenheim Capital LLC raised its holdings in Cna Financial by 1.8% in the fourth quarter. Guggenheim Capital LLC now owns 75,570 shares of the insurance provider’s stock valued at $4,009,000 after acquiring an additional 1,349 shares in the last quarter. QS Investors LLC raised its holdings in Cna Financial by 981.9% in the fourth quarter. QS Investors LLC now owns 40,324 shares of the insurance provider’s stock valued at $2,139,000 after acquiring an additional 36,597 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in Cna Financial by 15.2% in the fourth quarter. Brandywine Global Investment Management LLC now owns 57,644 shares of the insurance provider’s stock valued at $3,059,000 after acquiring an additional 7,627 shares in the last quarter. Jefferies Group LLC raised its holdings in Cna Financial by 14.0% in the fourth quarter. Jefferies Group LLC now owns 33,735 shares of the insurance provider’s stock valued at $1,790,000 after acquiring an additional 4,142 shares in the last quarter. Finally, Invictus RG acquired a new stake in Cna Financial in the fourth quarter valued at $404,000. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. ValuEngine raised shares of Cna Financial from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Cna Financial from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.33.
Cna Financial (NYSE:CNA) last released its earnings results on Monday, February 12th. The insurance provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.23. Cna Financial had a net margin of 9.42% and a return on equity of 7.64%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. equities research analysts forecast that Cna Financial Corp will post 4.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $1.20 annualized dividend and a yield of 2.28%. Cna Financial’s payout ratio is 36.25%.
In other Cna Financial news, EVP Larry A. Haefner sold 7,457 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $53.25, for a total transaction of $397,085.25. Following the completion of the sale, the executive vice president now owns 42,460 shares in the company, valued at $2,260,995. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott L. Weber sold 1,486 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $49.83, for a total transaction of $74,047.38. Following the sale, the executive vice president now owns 2,382 shares of the company’s stock, valued at approximately $118,695.06. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
About Cna Financial
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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