HB Wealth Management LLC Boosts Stock Position in CNA Financial Corporation $CNA

Key Points

• HB Wealth Management LLC increased its stake in CNA Financial Corporation by 104.3% in Q2, now holding 10,701 shares valued at $498,000.
• Analysts have issued a "hold" rating on CNA Financial, with an average price target of $50.50 as per recent data.
• CNA Financial reported a quarterly EPS of $1.23, exceeding estimates, and maintains a quarterly dividend yielding 4.0% annually.

HB Wealth Management LLC boosted its holdings in CNA Financial Corporation (NYSE:CNA - Free Report) by 104.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,701 shares of the insurance provider's stock after buying an additional 5,464 shares during the quarter. HB Wealth Management LLC's holdings in CNA Financial were worth $498,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CNA. Charles Schwab Investment Management Inc. increased its holdings in CNA Financial by 210.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider's stock valued at $43,816,000 after buying an additional 585,076 shares during the last quarter. AQR Capital Management LLC increased its holdings in CNA Financial by 21.4% in the first quarter. AQR Capital Management LLC now owns 2,355,192 shares of the insurance provider's stock valued at $119,090,000 after buying an additional 415,856 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in CNA Financial in the first quarter valued at $16,258,000. GAMMA Investing LLC increased its holdings in CNA Financial by 5,501.5% in the first quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock valued at $5,835,000 after buying an additional 112,836 shares during the last quarter. Finally, Strs Ohio purchased a new position in CNA Financial in the first quarter valued at $3,118,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of CNA Financial in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, CNA Financial has an average rating of "Reduce" and an average price target of $50.50.

CNA Financial Stock Performance

Shares of CNA stock opened at $46.41 on Monday. The stock has a market capitalization of $12.56 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 4.13 and a beta of 0.50. CNA Financial Corporation has a 52-week low of $43.29 and a 52-week high of $51.42. The stock's 50-day moving average price is $47.12 and its 200 day moving average price is $47.05. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.23.

CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.29. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company earned $1.19 EPS. As a group, equities research analysts forecast that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, August 18th. CNA Financial's payout ratio is currently 57.32%.

Insider Buying and Selling

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of CNA Financial stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $46.25, for a total value of $289,062.50. Following the sale, the chairman owned 680,588 shares of the company's stock, valued at approximately $31,477,195. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott R. Lindquist sold 8,380 shares of CNA Financial stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $48.98, for a total value of $410,452.40. Following the completion of the sale, the chief financial officer directly owned 81,487 shares in the company, valued at $3,991,233.26. This represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,880 shares of company stock worth $1,493,865 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

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.

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