Bank of Montreal Can Raises Position in CNA Financial Corporation (CNA)
Bank of Montreal Can boosted its position in shares of CNA Financial Corporation (NYSE:CNA) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 39,028 shares of the insurance provider’s stock after buying an additional 39 shares during the period. Bank of Montreal Can’s holdings in CNA Financial Corporation were worth $1,903,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CNA. Acadian Asset Management LLC raised its position in shares of CNA Financial Corporation by 603.5% in the first quarter. Acadian Asset Management LLC now owns 245,583 shares of the insurance provider’s stock worth $10,848,000 after buying an additional 210,674 shares during the last quarter. LSV Asset Management raised its position in shares of CNA Financial Corporation by 17.3% in the first quarter. LSV Asset Management now owns 1,352,502 shares of the insurance provider’s stock worth $59,740,000 after buying an additional 199,443 shares during the last quarter. First Trust Advisors LP raised its position in shares of CNA Financial Corporation by 41.6% in the first quarter. First Trust Advisors LP now owns 581,424 shares of the insurance provider’s stock worth $25,681,000 after buying an additional 170,926 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of CNA Financial Corporation during the first quarter worth $6,590,000. Finally, Goldman Sachs Group Inc. raised its position in shares of CNA Financial Corporation by 122.1% in the first quarter. Goldman Sachs Group Inc. now owns 254,611 shares of the insurance provider’s stock worth $11,246,000 after buying an additional 139,997 shares during the last quarter. Institutional investors own 99.78% of the company’s stock.
CNA Financial Corporation (NYSE CNA) traded down 0.08% on Monday, hitting $52.68. The stock had a trading volume of 47,004 shares. The stock’s 50 day moving average is $50.08 and its 200 day moving average is $45.79. CNA Financial Corporation has a one year low of $32.03 and a one year high of $53.67. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 12.82 and a beta of 1.23.
CNA Financial Corporation (NYSE:CNA) last issued its quarterly earnings data on Monday, July 31st. The insurance provider reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. CNA Financial Corporation had a return on equity of 8.40% and a net margin of 11.72%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Analysts anticipate that CNA Financial Corporation will post $3.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Monday, August 14th will be given a $0.30 dividend. This is an increase from CNA Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, August 10th. CNA Financial Corporation’s dividend payout ratio is currently 29.20%.
A number of research analysts have weighed in on CNA shares. Zacks Investment Research upgraded CNA Financial Corporation from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, June 5th. Deutsche Bank AG lowered CNA Financial Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $45.00 to $46.00 in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $47.00.
About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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