CNA Financial Co. (NYSE:CNA) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of CNA Financial Co. (NYSE:CNA - Free Report) by 39.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,323 shares of the insurance provider's stock after selling 25,869 shares during the period. Bank of America Corp DE's holdings in CNA Financial were worth $1,950,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNA. EverSource Wealth Advisors LLC boosted its stake in shares of CNA Financial by 663.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 771 shares of the insurance provider's stock valued at $37,000 after buying an additional 670 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of CNA Financial by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the insurance provider's stock valued at $61,000 after buying an additional 286 shares in the last quarter. Quent Capital LLC boosted its stake in shares of CNA Financial by 28.3% in the fourth quarter. Quent Capital LLC now owns 1,475 shares of the insurance provider's stock valued at $71,000 after buying an additional 325 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of CNA Financial in the fourth quarter valued at approximately $74,000. Finally, Covestor Ltd boosted its stake in shares of CNA Financial by 33.4% in the fourth quarter. Covestor Ltd now owns 2,079 shares of the insurance provider's stock valued at $100,000 after buying an additional 521 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Daniel Paul Franzetti sold 12,991 shares of the firm's stock in a transaction on 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 in the company, valued at $3,709,524.72. This trade represents a 14.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $47.63, for a total value of $297,687.50. Following the sale, the chairman now owns 705,588 shares in the company, valued at $33,607,156.44. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,006 shares of company stock valued at $2,099,564. Corporate insiders own 0.30% of the company's stock.

CNA Financial Price Performance

NYSE CNA traded up $0.18 during mid-day trading on Friday, hitting $47.15. The stock had a trading volume of 240,313 shares, compared to its average volume of 321,452. CNA Financial Co. has a 52-week low of $42.85 and a 52-week high of $52.36. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 9.23 and a beta of 0.53. The company has a 50 day simple moving average of $47.86 and a 200 day simple moving average of $48.51. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.13). The firm had revenue of $3.63 billion during the quarter, compared to analysts' expectations of $3.68 billion. CNA Financial had a net margin of 6.72% and a return on equity of 12.90%. During the same period in the previous year, the business earned $1.30 earnings per share. Equities analysts forecast that CNA Financial Co. will post 4.64 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.90%. The ex-dividend date was Monday, May 19th. CNA Financial's payout ratio is 56.10%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CNA shares. Wall Street Zen downgraded CNA Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their price objective on CNA Financial from $54.00 to $53.00 and set a "market perform" rating for the company in a research note on Wednesday, February 12th.

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.