Parallel Advisors LLC Boosts Stock Position in CNA Financial Co. (NYSE:CNA)

Parallel Advisors LLC increased its stake in CNA Financial Co. (NYSE:CNA) by 20.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,703 shares of the insurance provider’s stock after purchasing an additional 1,130 shares during the quarter. Parallel Advisors LLC’s holdings in CNA Financial were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in CNA Financial during the 2nd quarter valued at about $368,000. American Century Companies Inc. boosted its position in shares of CNA Financial by 786.5% in the second quarter. American Century Companies Inc. now owns 153,669 shares of the insurance provider’s stock valued at $7,080,000 after acquiring an additional 136,334 shares during the period. Quest Partners LLC grew its stake in CNA Financial by 75,123.8% during the second quarter. Quest Partners LLC now owns 15,797 shares of the insurance provider’s stock valued at $728,000 after acquiring an additional 15,776 shares in the last quarter. Ballentine Partners LLC increased its holdings in CNA Financial by 14.5% during the 2nd quarter. Ballentine Partners LLC now owns 18,926 shares of the insurance provider’s stock worth $872,000 after acquiring an additional 2,396 shares during the period. Finally, Wakefield Asset Management LLLP lifted its stake in CNA Financial by 4.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 10,205 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 440 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

CNA Financial Stock Performance

NYSE:CNA opened at $50.07 on Thursday. The stock has a market cap of $13.58 billion, a P/E ratio of 10.93, a PEG ratio of 3.37 and a beta of 0.65. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $49.38 and its two-hundred day moving average price is $46.15. CNA Financial Co. has a twelve month low of $37.95 and a twelve month high of $52.36.

CNA Financial (NYSE:CNA) last announced its earnings results on Monday, July 29th. The insurance provider reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. CNA Financial had a net margin of 9.27% and a return on equity of 14.02%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $1.13 earnings per share. As a group, equities analysts predict that CNA Financial Co. will post 4.86 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a $0.44 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.76 annualized dividend and a yield of 3.52%. CNA Financial’s dividend payout ratio (DPR) is presently 38.43%.

Insider Activity at CNA Financial

In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of CNA Financial stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the sale, the executive vice president now owns 22,917 shares of the company’s stock, valued at $1,159,141.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of CNA Financial stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.58, for a total transaction of $938,107.26. Following the transaction, the executive vice president now directly owns 22,917 shares of the company’s stock, valued at $1,159,141.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $49.60, for a total transaction of $1,297,536.00. Following the completion of the sale, the executive vice president now owns 47,744 shares of the company’s stock, valued at $2,368,102.40. The disclosure for this sale can be found here. Insiders have sold a total of 49,151 shares of company stock valued at $2,449,311 over the last 90 days. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on shares of CNA Financial from $48.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st.

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.