Renaissance Technologies LLC Reduces Stock Position in CNA Financial Co. (NYSE:CNA)

Renaissance Technologies LLC cut its holdings in shares of CNA Financial Co. (NYSE:CNA - Free Report) by 61.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,500 shares of the insurance provider's stock after selling 97,200 shares during the period. Renaissance Technologies LLC's holdings in CNA Financial were worth $2,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNA. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 670 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 during the last quarter. Quent Capital LLC increased its stake in shares of 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 acquiring an additional 325 shares during the period. Quantbot Technologies LP acquired a new position in shares of CNA Financial during the fourth quarter worth about $74,000. Finally, GAMMA Investing LLC increased its stake in shares of CNA Financial by 16.7% during the fourth quarter. GAMMA Investing LLC now owns 2,051 shares of the insurance provider's stock worth $99,000 after acquiring an additional 293 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

CNA Financial Stock Down 0.2 %

NYSE CNA traded down $0.11 on Tuesday, hitting $47.50. 12,960 shares of the stock traded hands, compared to its average volume of 322,952. The stock has a 50-day moving average of $48.52 and a 200 day moving average of $48.70. CNA Financial Co. has a twelve month low of $42.33 and a twelve month high of $52.36. The company has a market capitalization of $12.83 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 9.23 and a beta of 0.47. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The insurance provider reported $1.25 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that CNA Financial Co. will post 4.64 earnings per share for the current fiscal year.

CNA Financial Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.84 annualized dividend and a yield of 3.87%. This is a boost from CNA Financial's previous quarterly dividend of $0.44. CNA Financial's dividend payout ratio (DPR) is currently 52.27%.

Insiders Place Their Bets

In other CNA Financial news, CAO Daniel Paul Franzetti sold 12,991 shares of the business'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 in the company, valued at approximately $3,709,524.72. The trade was a 14.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Dino Robusto acquired 3,896 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $47.63 per share, for a total transaction of $185,566.48. Following the acquisition, the chairman now owns 724,338 shares in the company, valued at approximately $34,500,218.94. This trade represents a 0.54 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 25,491 shares of company stock worth $1,261,838. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CNA. Keefe, Bruyette & Woods lowered their target price on shares of CNA Financial from $54.00 to $53.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. StockNews.com downgraded shares of CNA Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th.

About CNA Financial

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.