Pinebridge Investments L.P. Invests $1.56 Million in CNA Financial Co. (NYSE:CNA)

Pinebridge Investments L.P. purchased a new position in shares of CNA Financial Co. (NYSE:CNA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,294 shares of the insurance provider's stock, valued at approximately $1,562,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of CNA Financial by 663.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 771 shares of the insurance provider's stock worth $37,000 after acquiring an additional 670 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in CNA Financial by 29.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the insurance provider's stock worth $61,000 after purchasing an additional 286 shares during the period. Quent Capital LLC boosted its position in CNA Financial by 28.3% during the fourth quarter. Quent Capital LLC now owns 1,475 shares of the insurance provider's stock worth $71,000 after purchasing an additional 325 shares in the last quarter. Quantbot Technologies LP acquired a new stake in CNA Financial in the fourth quarter valued at approximately $74,000. Finally, GAMMA Investing LLC increased its position in shares of CNA Financial by 16.7% in the fourth quarter. GAMMA Investing LLC now owns 2,051 shares of the insurance provider's stock valued at $99,000 after buying an additional 293 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CNA shares. Keefe, Bruyette & Woods dropped their price target on shares of CNA Financial from $54.00 to $53.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 12th. StockNews.com lowered shares of CNA Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

CNA Financial Price Performance

Shares of CNA Financial stock traded up $0.85 during mid-day trading on Friday, reaching $48.29. 294,745 shares of the stock traded hands, compared to its average volume of 326,585. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $48.46 and a 200 day moving average of $48.67. The stock has a market capitalization of $13.05 billion, a PE ratio of 13.72, a PEG ratio of 9.23 and a beta of 0.47. CNA Financial Co. has a fifty-two week low of $42.33 and a fifty-two week high of $52.36.

CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The insurance provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.14. CNA Financial had a return on equity of 12.90% and a net margin of 6.72%. On average, analysts predict that CNA Financial Co. will post 4.64 EPS for the current year.

CNA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.81%. The ex-dividend date was Monday, February 24th. This is a boost from CNA Financial's previous quarterly dividend of $0.44. CNA Financial's dividend payout ratio is currently 52.27%.

Insider Buying and Selling at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $51.06, for a total value of $319,125.00. Following the completion of the sale, the chairman now owns 718,088 shares of the company's stock, valued at approximately $36,665,573.28. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Paul Franzetti sold 12,991 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $49.06, for a total transaction of $637,338.46. Following the sale, the chief accounting officer now owns 75,612 shares of the company's stock, valued at approximately $3,709,524.72. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,741 shares of company stock worth $1,559,401. Insiders own 0.30% of the company's stock.

CNA Financial 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.