Cna Financial Corp (CNA) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lowered its stake in shares of Cna Financial Corp (NYSE:CNA) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 45,248 shares of the insurance provider’s stock after selling 4,606 shares during the period. California State Teachers Retirement System’s holdings in Cna Financial were worth $2,274,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in CNA. Acrospire Investment Management LLC increased its position in shares of Cna Financial by 111.1% during the second quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Cna Financial by 87.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,774 shares of the insurance provider’s stock valued at $146,000 after buying an additional 1,294 shares during the period. Koch Industries Inc. purchased a new position in shares of Cna Financial during the second quarter valued at about $203,000. SG Americas Securities LLC increased its position in shares of Cna Financial by 37.9% during the third quarter. SG Americas Securities LLC now owns 4,386 shares of the insurance provider’s stock valued at $220,000 after buying an additional 1,205 shares during the period. Finally, Gotham Asset Management LLC purchased a new position in shares of Cna Financial during the second quarter valued at about $221,000. Institutional investors own 99.69% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Cna Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. ValuEngine cut shares of Cna Financial from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $55.00 price objective on shares of Cna Financial in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.33.
Cna Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.27). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Cna Financial had a return on equity of 7.14% and a net margin of 9.67%. During the same quarter last year, the company posted $1.15 EPS. equities analysts expect that Cna Financial Corp will post 3.07 EPS for the current year.
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Cna Financial Profile
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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