Convergence Investment Partners LLC Grows Stock Holdings in CNA Financial Co. (NYSE:CNA)

Convergence Investment Partners LLC boosted its stake in CNA Financial Co. (NYSE:CNA) by 139.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,328 shares of the insurance provider’s stock after acquiring an additional 8,334 shares during the period. Convergence Investment Partners LLC’s holdings in CNA Financial were worth $660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of CNA Financial by 28.5% in the first quarter. GAMMA Investing LLC now owns 1,144 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 254 shares during the period. Abich Financial Wealth Management LLC grew its position in CNA Financial by 39.1% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,756 shares of the insurance provider’s stock valued at $80,000 after buying an additional 494 shares during the last quarter. Covestor Ltd increased its stake in CNA Financial by 82.0% in the 1st quarter. Covestor Ltd now owns 1,971 shares of the insurance provider’s stock valued at $90,000 after buying an additional 888 shares during the period. Whittier Trust Co. purchased a new position in CNA Financial during the 2nd quarter worth $92,000. Finally, Blue Trust Inc. acquired a new stake in shares of CNA Financial in the 2nd quarter worth $94,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $49.60, for a total value of $1,297,536.00. Following the completion of the transaction, the executive vice president now owns 47,744 shares in the company, valued at $2,368,102.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other CNA Financial news, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $49.60, for a total value of $1,297,536.00. Following the sale, the executive vice president now owns 47,744 shares of the company’s stock, valued at $2,368,102.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jane Elizabeth Possell sold 4,444 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $48.08, for a total transaction of $213,667.52. Following the completion of the sale, the executive vice president now owns 30,009 shares in the company, valued at $1,442,832.72. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNA. Keefe, Bruyette & Woods boosted their price target on shares of CNA Financial from $48.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.

CNA Financial Price Performance

Shares of NYSE CNA opened at $51.92 on Tuesday. The company’s fifty day moving average is $48.15 and its two-hundred day moving average is $45.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $14.09 billion, a P/E ratio of 11.34, a PEG ratio of 3.54 and a beta of 0.64. CNA Financial Co. has a one year low of $37.95 and a one year high of $52.21.

CNA Financial (NYSE:CNA) last issued its earnings results on Monday, July 29th. The insurance provider reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19. CNA Financial had a net margin of 9.27% and a return on equity of 14.02%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Analysts forecast that CNA Financial Co. will post 4.86 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, August 12th. This represents a $1.76 annualized dividend and a yield of 3.39%. CNA Financial’s dividend payout ratio is presently 38.43%.

CNA Financial Profile

CNA Financial Corporation provides commercial property and casualty insurance products in the United States and internationally. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company 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 and cyber 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 casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.