Connor Clark & Lunn Investment Management Ltd. Raises Stake in CNA Financial Corporation $CNA

Connor Clark & Lunn Investment Management Ltd. raised its holdings in CNA Financial Corporation (NYSE:CNA) by 51.0% during the second quarter, HoldingsChannel reports. The firm owned 141,730 shares of the insurance provider’s stock after buying an additional 47,890 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in CNA Financial were worth $6,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Applied Finance Capital Management LLC grew its holdings in shares of CNA Financial by 3.4% during the first quarter. Applied Finance Capital Management LLC now owns 6,829 shares of the insurance provider’s stock worth $347,000 after buying an additional 227 shares during the last quarter. Signaturefd LLC grew its stake in shares of CNA Financial by 7.7% in the 2nd quarter. Signaturefd LLC now owns 3,680 shares of the insurance provider’s stock valued at $171,000 after purchasing an additional 264 shares during the last quarter. Amundi increased its holdings in shares of CNA Financial by 5.3% in the first quarter. Amundi now owns 7,787 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 389 shares during the period. US Bancorp DE raised its stake in shares of CNA Financial by 12.4% during the first quarter. US Bancorp DE now owns 4,164 shares of the insurance provider’s stock worth $211,000 after purchasing an additional 461 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of CNA Financial by 13.6% during the second quarter. Focus Partners Advisor Solutions LLC now owns 4,962 shares of the insurance provider’s stock worth $231,000 after purchasing an additional 593 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

CNA Financial Price Performance

NYSE CNA opened at $46.00 on Thursday. The company has a 50 day simple moving average of $46.02 and a 200-day simple moving average of $46.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Corporation has a 52-week low of $43.29 and a 52-week high of $51.42. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 3.86 and a beta of 0.50.

CNA Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, November 3rd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.25. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $1.08 earnings per share. Equities research analysts predict that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 17th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.84 annualized dividend and a dividend yield of 4.0%. CNA Financial’s payout ratio is presently 50.41%.

Insider Buying and Selling

In other CNA Financial news, CFO Scott R. Lindquist sold 10,000 shares of CNA Financial stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $48.81, for a total value of $488,100.00. Following the completion of the sale, the chief financial officer directly owned 89,867 shares in the company, valued at $4,386,408.27. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Dino Robusto sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $45.28, for a total transaction of $283,000.00. Following the completion of the sale, the chairman directly owned 674,338 shares of the company’s stock, valued at $30,534,024.64. This represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,130 shares of company stock worth $1,776,865 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CNA has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of CNA Financial from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Weiss Ratings downgraded CNA Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised CNA Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

CNA Financial Profile

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.