River Road Asset Management LLC Has $31.25 Million Stake in Cna Financial Corp (NYSE:CNA)
River Road Asset Management LLC decreased its holdings in Cna Financial Corp (NYSE:CNA) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 634,599 shares of the insurance provider’s stock after selling 59,361 shares during the quarter. River Road Asset Management LLC owned 0.23% of Cna Financial worth $31,254,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Heartland Advisors Inc. raised its stake in Cna Financial by 2.2% in the 2nd quarter. Heartland Advisors Inc. now owns 10,646 shares of the insurance provider’s stock worth $501,000 after purchasing an additional 225 shares in the last quarter. Signaturefd LLC raised its position in shares of Cna Financial by 16.6% in the 3rd quarter. Signaturefd LLC now owns 1,825 shares of the insurance provider’s stock valued at $90,000 after buying an additional 260 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Cna Financial by 4.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,802 shares of the insurance provider’s stock valued at $414,000 after buying an additional 349 shares in the last quarter. US Bancorp DE raised its position in shares of Cna Financial by 41.9% in the 2nd quarter. US Bancorp DE now owns 2,040 shares of the insurance provider’s stock valued at $96,000 after buying an additional 602 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Cna Financial by 22.8% in the 2nd quarter. Assetmark Inc. now owns 3,393 shares of the insurance provider’s stock valued at $160,000 after buying an additional 629 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
Separately, Zacks Investment Research cut shares of Cna Financial from a “hold” rating to a “sell” rating and set a $49.00 target price for the company. in a research report on Tuesday, August 6th.
Cna Financial (NYSE:CNA) last issued its earnings results on Monday, October 28th. The insurance provider reported $0.37 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.67). The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Cna Financial had a net margin of 6.19% and a return on equity of 7.72%. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Research analysts expect that Cna Financial Corp will post 4.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, November 7th. Cna Financial’s payout ratio is presently 45.16%.
About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It 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 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 standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
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