Quest Partners LLC Boosts Stake in CNA Financial Co. (NYSE:CNA)

Quest Partners LLC lifted its stake in CNA Financial Co. (NYSE:CNA) by 69.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 26,737 shares of the insurance provider’s stock after acquiring an additional 10,940 shares during the period. Quest Partners LLC’s holdings in CNA Financial were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CNA. Tidal Investments LLC increased its stake in CNA Financial by 335.4% in the 1st quarter. Tidal Investments LLC now owns 30,046 shares of the insurance provider’s stock worth $1,365,000 after buying an additional 23,146 shares in the last quarter. Symmetry Partners LLC increased its stake in CNA Financial by 318.3% in the 2nd quarter. Symmetry Partners LLC now owns 20,361 shares of the insurance provider’s stock worth $938,000 after buying an additional 15,493 shares in the last quarter. AQR Capital Management LLC increased its stake in CNA Financial by 97.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock worth $51,760,000 after buying an additional 570,172 shares in the last quarter. Creative Planning increased its stake in CNA Financial by 16.5% in the 3rd quarter. Creative Planning now owns 16,067 shares of the insurance provider’s stock worth $786,000 after buying an additional 2,272 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in CNA Financial in the 2nd quarter worth $273,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

CNA Financial Stock Down 0.7 %

CNA opened at $48.58 on Wednesday. The firm has a 50-day simple moving average of $48.94 and a two-hundred day simple moving average of $47.66. CNA Financial Co. has a 52 week low of $39.75 and a 52 week high of $52.36. The company has a market capitalization of $13.16 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 6.31 and a beta of 0.65. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same quarter last year, the firm earned $1.06 EPS. Analysts forecast that CNA Financial Co. will post 4.65 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.76 annualized dividend and a yield of 3.62%. CNA Financial’s dividend payout ratio is currently 36.67%.

Insider Buying and Selling

In other CNA Financial news, EVP Douglas Worman sold 22,973 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares in the company, valued at $6,521,628.75. The trade was a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Steven James sold 18,547 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.58, for a total value of $938,107.26. Following the transaction, the executive vice president now owns 22,917 shares of the company’s stock, valued at $1,159,141.86. This trade represents a 44.73 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CNA has been the subject of a number of analyst reports. Bank of America increased their price target on CNA Financial from $45.00 to $48.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

CNA Financial Company 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.