Franklin Resources Inc. Decreases Holdings in CNA Financial Co. (NYSE:CNA)

Franklin Resources Inc. reduced its stake in CNA Financial Co. (NYSE:CNA) by 11.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 21,741 shares of the insurance provider’s stock after selling 2,768 shares during the quarter. Franklin Resources Inc.’s holdings in CNA Financial were worth $1,076,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its stake in CNA Financial by 9.8% in the third quarter. Tidal Investments LLC now owns 14,974 shares of the insurance provider’s stock valued at $733,000 after purchasing an additional 1,338 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of CNA Financial in the third quarter valued at $690,000. Barclays PLC lifted its position in shares of CNA Financial by 108.7% during the 3rd quarter. Barclays PLC now owns 31,444 shares of the insurance provider’s stock valued at $1,539,000 after buying an additional 16,377 shares during the last quarter. M&T Bank Corp grew its stake in shares of CNA Financial by 15.9% during the 3rd quarter. M&T Bank Corp now owns 6,902 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 946 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in CNA Financial in the 3rd quarter worth about $913,000. Institutional investors own 98.45% of the company’s stock.

CNA Financial Trading Down 1.1 %

Shares of CNA stock opened at $48.40 on Friday. The company has a market capitalization of $13.11 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66. CNA Financial Co. has a 52-week low of $41.64 and a 52-week high of $52.36. The business’s fifty day moving average is $48.89 and its 200 day moving average is $48.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26.

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

CNA Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, November 18th. CNA Financial’s payout ratio is presently 36.67%.

Insiders Place Their Bets

In other news, EVP Douglas Worman sold 22,973 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.75, for a total value of $1,119,933.75. Following the transaction, the executive vice president now owns 133,777 shares in the company, valued at approximately $6,521,628.75. This trade represents a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.