UBS Group AG Grows Stake in CNA Financial Corporation $CNA

Key Points

• UBS Group AG increased its stake in CNA by 25.9% in Q4 to 867,787 shares (about $41.4M), representing roughly 0.32% of the company.
• Several other institutions — including Millennium, M&T Bank, Two Sigma, Jacobs Levy and Squarepoint — also sharply boosted positions, leaving hedge funds and institutional investors owning about 98.45% of CNA.
• Analysts have trimmed ratings to a consensus "Hold"; CNA missed the most recent quarterly EPS ($0.83 vs. $1.30 estimate) but announced a $0.48 quarterly dividend (4.4% yield).

UBS Group AG increased its holdings in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 867,787 shares of the insurance provider's stock after purchasing an additional 178,314 shares during the quarter. UBS Group AG owned approximately 0.32% of CNA Financial worth $41,428,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNA. Millennium Management LLC grew its position in shares of CNA Financial by 409.1% during the third quarter. Millennium Management LLC now owns 604,963 shares of the insurance provider's stock worth $28,107,000 after purchasing an additional 486,127 shares in the last quarter. M&T Bank Corp grew its position in shares of CNA Financial by 8,100.7% during the fourth quarter. M&T Bank Corp now owns 484,580 shares of the insurance provider's stock worth $23,134,000 after purchasing an additional 478,671 shares in the last quarter. Two Sigma Investments LP grew its position in shares of CNA Financial by 429.2% during the third quarter. Two Sigma Investments LP now owns 425,779 shares of the insurance provider's stock worth $19,782,000 after purchasing an additional 345,322 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of CNA Financial by 69.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 656,067 shares of the insurance provider's stock worth $30,481,000 after purchasing an additional 268,917 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in CNA Financial by 797.8% during the third quarter. Squarepoint Ops LLC now owns 276,312 shares of the insurance provider's stock valued at $12,837,000 after buying an additional 245,535 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CNA shares. Zacks Research lowered CNA Financial from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Weiss Ratings lowered CNA Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, Wall Street Zen lowered CNA Financial from a "buy" rating to a "hold" rating in a research note on Sunday, February 15th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold".

CNA Financial Price Performance

NYSE:CNA opened at $43.72 on Friday. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 5.61 and a beta of 0.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.26 and a quick ratio of 0.28. The business has a 50 day simple moving average of $46.98 and a 200-day simple moving average of $46.84. CNA Financial Corporation has a 1 year low of $42.77 and a 1 year high of $50.72.

CNA Financial (NYSE:CNA - Get Free Report) last announced its earnings results on Monday, May 4th. The insurance provider reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.47). The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $2.93 billion. CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.During the same quarter last year, the firm posted $1.03 EPS. Equities analysts forecast that CNA Financial Corporation will post 4.33 EPS for the current year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Monday, May 18th will be issued a $0.48 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.4%. CNA Financial's payout ratio is 42.95%.

Insider Activity at CNA Financial

In other news, SVP Jeffrey John Neuenschwander sold 3,287 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $45.97, for a total value of $151,103.39. Following the completion of the sale, the senior vice president owned 7,277 shares in the company, valued at approximately $334,523.69. This trade represents a 31.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.29% of the company's stock.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.

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