Los Angeles Capital Management LLC buys new shares in CNA Financial Co. (NYSE: CNA)
Los Angeles Capital Management LLC acquired a new equity position in CNA Financial Co. (NYSE: ANC – Get a rating) in Q1, according to its most recently filed Form 13F with the SEC. The company acquired 10,937 shares of the insurance provider, valued at approximately $532,000.
A number of other large investors have also recently changed their holdings in CNA. Allworth Financial LP purchased a new stake in shares of CNA Financial during Q1 worth approximately $27,000. Signaturefd LLC increased its position in CNA Financial shares by 103.5% during the 1st quarter. Signaturefd LLC now owns 578 shares of the insurance provider worth $28,000 after purchasing an additional 294 shares in the last quarter. Lazard Asset Management LLC acquired a new position in CNA Financial stock in Q4 worth approximately $39,000. CENTRAL TRUST Co acquired a new position in CNA Financial stock in Q1 worth approximately $45,000. Finally, Covestor Ltd acquired a new position in CNA Financial shares in Q4 worth approximately $99,000. 99.04% of the shares are currently held by institutional investors.
Analysts set new price targets
Separately, StockNews.com cut shares of CNA Financial from a “buy” rating to a “hold” rating in a report on Sunday, July 31.
CNA Financial Trading up 0.7%
Shares of NAC Action opened at $41.70 on Monday. CNA Financial Co. has a 1-year low of $39.57 and a 1-year high of $50.33. The company’s fifty-day simple moving average is $43.03 and its 200-day simple moving average is $45.42. The company has a market capitalization of $11.31 billion, a P/E ratio of 10.92, a price-to-earnings growth ratio of 2.25 and a beta of 0.66. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt ratio of 0.29.
CNA Financial (NYSE: ANC – Get a rating) last announced its results on Monday, August 1. The insurance provider reported earnings per share (EPS) of $0.90 for the quarter, missing analyst consensus estimates of $1.03 per ($0.13). CNA Financial had a return on equity of 9.28% and a net margin of 8.80%. In the same quarter a year earlier, the company posted EPS of $1.25. As a group, sell-side analysts expect CNA Financial Co. to post year-to-date EPS of 3.7.
CNA Financial announces dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1. Investors of record on Monday August 15 will receive a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, August 12. CNA Financial’s dividend payout ratio (DPR) is currently 41.88%.
Insider Buying and Selling at CNA Financial
In other CNA Financial news, EVP Daniel Paul Franzetti sold 9,486 shares of the company in a trade on Tuesday, May 24. The shares were sold at an average price of $44.79, for a total value of $424,877.94. Following the sale, the executive vice president now owns 41,830 shares of the company, valued at approximately $1,873,565.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. Insiders hold 0.24% of the company’s shares.
CNA Financial Company Profile
CNA Financial Corporation offers P&C insurance products to businesses primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The Company provides professional liability coverage and risk management services to various professional firms, including architects, real estate agents, accounting firms and law firms; directors and officers, employment practices, fiduciary and loyalty coverages for small and medium enterprises, public and private companies and non-profit organizations; professional and general liability and associated standard property and casualty coverages for the healthcare sector; bonds and surety bonds; and warranty and alternative risk products.
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