Kornitzer Capital Management Inc. KS Buys 27,198 Shares of CNA Financial Corporation $CNA

Kornitzer Capital Management Inc. KS increased its stake in shares of CNA Financial Corporation (NYSE:CNA) by 98.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 54,908 shares of the insurance provider’s stock after acquiring an additional 27,198 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CNA Financial were worth $2,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CNA. BlackRock Inc. acquired a new stake in CNA Financial in the second quarter worth $80,193,000. First Trust Advisors LP boosted its holdings in shares of CNA Financial by 34.6% during the first quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider’s stock valued at $96,482,000 after acquiring an additional 540,448 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of CNA Financial by 48.9% during the first quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider’s stock valued at $31,467,000 after acquiring an additional 225,030 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CNA Financial during the second quarter worth about $9,267,000. Finally, Patrick Mauro Investment Advisor INC. bought a new position in shares of CNA Financial during the second quarter worth about $7,935,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CNA. Zacks Research upgraded shares of CNA Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings lowered shares of CNA Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

CNA Financial Trading Up 0.1%

Shares of CNA stock opened at $47.37 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.26. CNA Financial Corporation has a 1 year low of $41.53 and a 1 year high of $55.71. The stock has a fifty day moving average of $47.50 and a two-hundred day moving average of $47.76. The firm has a market capitalization of $12.82 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 7.93 and a beta of 0.22.

CNA Financial (NYSE:CNA) last released its quarterly earnings results on Monday, November 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.46). The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.02 billion. CNA Financial had a return on equity of 9.74% and a net margin of 6.80%. During the same period in the previous year, the company posted $1.50 EPS. As a group, research analysts expect that CNA Financial Corporation will post 3.94 EPS for the current year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Monday, November 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.1%. CNA Financial’s dividend payout ratio is presently 50.66%.

CNA Financial Profile

CNA Financial Corporation is a commercial property and casualty insurance company headquartered in Chicago. It provides coverage and related risk-management services to businesses and organizations, with offerings that include property, casualty, workers’ compensation, professional liability and surety insurance.

The company serves customers across the United States and in select international markets. Its products are distributed through independent agents and brokers, and its specialty insurance operations address the needs of businesses in a range of industries.

CNA traces its roots to 1897, when the Continental Assurance Company was established.