Lazard Asset Management LLC acquired a new stake in CNA Financial (NYSE:CNA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 38,835 shares of the insurance provider’s stock, valued at approximately $2,060,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Venturi Wealth Management LLC boosted its stake in CNA Financial by 4.5% during the 4th quarter. Venturi Wealth Management LLC now owns 109,614 shares of the insurance provider’s stock worth $5,815,000 after purchasing an additional 4,702 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of CNA Financial by 9.1% in the 4th quarter. Allianz Asset Management GmbH now owns 456,755 shares of the insurance provider’s stock worth $24,232,000 after acquiring an additional 38,071 shares during the period. Assetmark Inc. lifted its stake in shares of CNA Financial by 182.3% in the 4th quarter. Assetmark Inc. now owns 16,777 shares of the insurance provider’s stock worth $890,000 after acquiring an additional 10,835 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of CNA Financial by 110.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 373,588 shares of the insurance provider’s stock worth $19,819,000 after acquiring an additional 196,288 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of CNA Financial in the 4th quarter worth $23,551,000. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Scott L. Weber sold 1,486 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $49.83, for a total value of $74,047.38. Following the sale, the executive vice president now directly owns 2,382 shares of the company’s stock, valued at $118,695.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Larry A. Haefner sold 7,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 directly owns 42,460 shares in the company, valued at $2,260,995. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
CNA stock traded down $0.22 during trading hours on Friday, reaching $51.95. 452,615 shares of the company’s stock traded hands, compared to its average volume of 244,520. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.23 and a quick ratio of 0.23. CNA Financial has a 52-week low of $42.34 and a 52-week high of $55.62. The stock has a market cap of $14,089.77, a P/E ratio of 15.69, a P/E/G ratio of 2.57 and a beta of 1.19.
CNA Financial (NYSE:CNA) last issued its quarterly earnings results on Monday, February 12th. The insurance provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.23. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. CNA Financial had a net margin of 9.42% and a return on equity of 7.64%. During the same period in the previous year, the firm posted $0.82 earnings per share. sell-side analysts predict that CNA Financial will post 4.04 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Monday, February 26th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. CNA Financial’s dividend payout ratio (DPR) is presently 36.25%.
Several analysts have recently commented on the stock. ValuEngine upgraded shares of CNA Financial from a “buy” rating to a “strong-buy” rating in a research note 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 price target for the company in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $53.33.
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About CNA Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company's property insurance products include property, marine, boiler, and machinery coverages; and casualty insurance products comprise workers compensation, general and product liability, commercial auto, and umbrella coverages.
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