Bank of New York Mellon Corp Has $49.25 Million Stock Position in CNA Financial Co. (NYSE:CNA)

Bank of New York Mellon Corp increased its position in CNA Financial Co. (NYSE:CNA) by 45.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,068,956 shares of the insurance provider’s stock after buying an additional 334,463 shares during the period. Bank of New York Mellon Corp owned 0.39% of CNA Financial worth $49,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of CNA Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock worth $32,079,000 after acquiring an additional 7,201 shares during the last quarter. CORDA Investment Management LLC. raised its stake in shares of CNA Financial by 0.4% in the fourth quarter. CORDA Investment Management LLC. now owns 631,186 shares of the insurance provider’s stock worth $26,705,000 after purchasing an additional 2,775 shares during the last quarter. Norges Bank bought a new position in shares of CNA Financial in the fourth quarter valued at approximately $14,296,000. Charles Schwab Investment Management Inc. boosted its position in shares of CNA Financial by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 336,898 shares of the insurance provider’s stock valued at $14,254,000 after buying an additional 5,922 shares during the last quarter. Finally, Alaska Permanent Fund Corp grew its holdings in CNA Financial by 4.0% during the first quarter. Alaska Permanent Fund Corp now owns 156,005 shares of the insurance provider’s stock worth $7,086,000 after buying an additional 6,058 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

CNA Financial Stock Performance

NYSE CNA opened at $51.92 on Friday. The company’s 50 day simple moving average is $48.01 and its two-hundred day simple moving average is $45.61. The stock has a market capitalization of $14.09 billion, a PE ratio of 11.34, a P/E/G ratio of 3.34 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Co. has a 1 year low of $37.95 and a 1 year high of $52.21.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data 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 analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $1.13 earnings per share. Analysts predict that CNA Financial Co. will post 4.87 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, August 12th. CNA Financial’s payout ratio is currently 38.43%.

About CNA Financial

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.