JPMorgan Chase & Co. Decreases Stake in CNA Financial Co. (NYSE:CNA)

JPMorgan Chase & Co. reduced its stake in CNA Financial Co. (NYSE:CNA) by 98.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,068 shares of the insurance provider’s stock after selling 1,477,448 shares during the period. JPMorgan Chase & Co.’s holdings in CNA Financial were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNA. True Wealth Design LLC purchased a new position in shares of CNA Financial in the 3rd quarter valued at approximately $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in CNA Financial in the 3rd quarter worth approximately $146,000. Blue Trust Inc. grew its stake in shares of CNA Financial by 74.8% during the 3rd quarter. Blue Trust Inc. now owns 3,635 shares of the insurance provider’s stock worth $167,000 after purchasing an additional 1,555 shares during the period. US Bancorp DE grew its stake in shares of CNA Financial by 26.6% during the 3rd quarter. US Bancorp DE now owns 3,449 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 725 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of CNA Financial during the 2nd quarter worth approximately $232,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNA. Bank of America raised their price objective on shares of CNA Financial from $45.00 to $48.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of CNA Financial from $55.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th.

CNA Financial Trading Down 0.1 %

Shares of CNA stock opened at $48.12 on Friday. The stock’s fifty day moving average is $48.60 and its two-hundred day moving average is $48.89. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market capitalization of $13.03 billion, a P/E ratio of 10.03, a PEG ratio of 6.10 and a beta of 0.67. CNA Financial Co. has a fifty-two week low of $42.33 and a fifty-two week high of $52.36.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. Research analysts expect that CNA Financial Co. will post 4.68 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.76 annualized dividend and a dividend yield of 3.66%. CNA Financial’s dividend payout ratio is presently 36.67%.

Insider Transactions at CNA Financial

In other CNA Financial news, EVP Douglas Worman sold 22,973 shares of CNA Financial stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the transaction, the executive vice president now directly owns 133,777 shares of the company’s stock, valued at $6,521,628.75. The trade was a 14.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.30% of the company’s stock.

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.