The Manufacturers Life Insurance Company Lowers Stock Position in CNA Financial Co. (NYSE:CNA)

The Manufacturers Life Insurance Company cut its stake in shares of CNA Financial Co. (NYSE:CNA) by 27.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,017 shares of the insurance provider’s stock after selling 4,845 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CNA Financial were worth $600,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. APG Asset Management N.V. purchased a new stake in shares of CNA Financial during the second quarter worth about $507,000. AQR Capital Management LLC grew its holdings in CNA Financial by 97.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock valued at $51,760,000 after buying an additional 570,172 shares in the last quarter. AXA S.A. lifted its holdings in shares of CNA Financial by 23.0% in the second quarter. AXA S.A. now owns 153,414 shares of the insurance provider’s stock worth $7,068,000 after buying an additional 28,674 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of CNA Financial by 17.3% during the second quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 303 shares during the last quarter. Finally, Caxton Associates LP grew its stake in CNA Financial by 170.8% during the second quarter. Caxton Associates LP now owns 13,941 shares of the insurance provider’s stock valued at $642,000 after acquiring an additional 8,792 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Activity at CNA Financial

In related news, EVP Jane Elizabeth Possell sold 4,444 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 30,009 shares of the company’s stock, valued at approximately $1,442,832.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $49.60, for a total transaction of $1,297,536.00. Following the transaction, the executive vice president now directly owns 47,744 shares of the company’s stock, valued at approximately $2,368,102.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jane Elizabeth Possell sold 4,444 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $48.08, for a total value of $213,667.52. Following the completion of the sale, the executive vice president now owns 30,009 shares of the company’s stock, valued at $1,442,832.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,151 shares of company stock worth $2,449,311. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CNA. Bank of America raised their price objective on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price objective on CNA Financial from $48.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st.

CNA Financial Stock Up 0.2 %

Shares of NYSE CNA opened at $49.57 on Wednesday. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 10.82, a P/E/G ratio of 3.31 and a beta of 0.64. CNA Financial Co. has a 12-month low of $38.32 and a 12-month high of $52.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $49.66 and its 200-day moving average price is $46.79.

CNA Financial (NYSE:CNA) last announced its earnings results on Monday, July 29th. The insurance provider reported $1.19 EPS for the quarter, hitting analysts’ consensus estimates of $1.19. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.08 billion. CNA Financial had a return on equity of 14.02% and a net margin of 9.27%. During the same quarter in the previous year, the business earned $1.13 EPS. On average, equities research analysts anticipate that CNA Financial Co. will post 4.85 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.76 annualized dividend and a dividend yield of 3.55%. CNA Financial’s dividend payout ratio (DPR) is presently 38.43%.

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.