Convergence Financial LLC Has $451,000 Stock Position in CNA Financial Corporation $CNA

Convergence Financial LLC raised its stake in shares of CNA Financial Corporation (NYSE:CNA) by 83.2% in the 2nd quarter, Holdings Channel reports. The firm owned 9,691 shares of the insurance provider’s stock after purchasing an additional 4,400 shares during the quarter. Convergence Financial LLC’s holdings in CNA Financial were worth $451,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of CNA Financial by 21.4% in the 1st quarter. AQR Capital Management LLC now owns 2,355,192 shares of the insurance provider’s stock valued at $119,090,000 after purchasing an additional 415,856 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CNA Financial by 26.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,499,771 shares of the insurance provider’s stock valued at $69,784,000 after purchasing an additional 309,534 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CNA Financial by 210.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider’s stock worth $43,816,000 after purchasing an additional 585,076 shares during the period. CORDA Investment Management LLC. increased its holdings in CNA Financial by 2.8% in the second quarter. CORDA Investment Management LLC. now owns 684,838 shares of the insurance provider’s stock worth $31,866,000 after purchasing an additional 18,856 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of CNA Financial by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 556,695 shares of the insurance provider’s stock worth $28,275,000 after buying an additional 11,019 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNA shares. Zacks Research upgraded shares of CNA Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings raised CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $53.00.

CNA Financial Price Performance

Shares of NYSE CNA opened at $44.31 on Wednesday. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 3.86 and a beta of 0.50. CNA Financial Corporation has a fifty-two week low of $43.29 and a fifty-two week high of $51.42. The firm’s 50-day simple moving average is $46.49 and its 200 day simple moving average is $46.57. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.25. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. As a group, research analysts anticipate that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 17th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 4.2%. CNA Financial’s dividend payout ratio (DPR) is currently 50.41%.

Insider Buying and Selling

In other news, CFO Scott R. Lindquist sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $48.81, for a total value of $488,100.00. Following the completion of the transaction, the chief financial officer directly owned 89,867 shares of the company’s stock, valued at $4,386,408.27. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $45.28, for a total value of $283,000.00. Following the sale, the chairman directly owned 674,338 shares of the company’s stock, valued at $30,534,024.64. The trade was a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,130 shares of company stock worth $1,776,865 in the last 90 days. Company insiders own 0.36% 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.