Legal & General Group Plc Reduces Stake in CNA Financial Corporation (CNA)

Legal & General Group Plc lowered its stake in shares of CNA Financial Corporation (NYSE:CNA) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,017 shares of the insurance provider’s stock after selling 5,740 shares during the period. Legal & General Group Plc’s holdings in CNA Financial Corporation were worth $4,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of CNA Financial Corporation by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 316,940 shares of the insurance provider’s stock valued at $15,450,000 after purchasing an additional 8,840 shares during the period. Rational Advisors LLC acquired a new position in shares of CNA Financial Corporation during the second quarter valued at about $804,000. Advisors Asset Management Inc. raised its holdings in shares of CNA Financial Corporation by 25.8% during the second quarter. Advisors Asset Management Inc. now owns 8,958 shares of the insurance provider’s stock valued at $437,000 after purchasing an additional 1,836 shares during the period. Rhumbline Advisers raised its holdings in shares of CNA Financial Corporation by 1.5% during the second quarter. Rhumbline Advisers now owns 39,762 shares of the insurance provider’s stock valued at $1,938,000 after purchasing an additional 606 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of CNA Financial Corporation by 5.1% during the second quarter. First Trust Advisors LP now owns 610,905 shares of the insurance provider’s stock valued at $29,782,000 after purchasing an additional 29,481 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.

Several brokerages have recently weighed in on CNA. BidaskClub upgraded shares of CNA Financial Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of CNA Financial Corporation from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Monday, June 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 target price on shares of CNA Financial Corporation in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.00.

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Shares of CNA Financial Corporation (NYSE CNA) opened at 48.52 on Tuesday. The company has a market capitalization of $13.15 billion, a P/E ratio of 11.81 and a beta of 1.24. CNA Financial Corporation has a 52-week low of $32.36 and a 52-week high of $53.67. The stock’s 50 day moving average is $50.75 and its 200 day moving average is $46.93.

CNA Financial Corporation (NYSE:CNA) last issued its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13. CNA Financial Corporation had a net margin of 11.72% and a return on equity of 8.40%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the company posted $0.77 EPS. Equities analysts expect that CNA Financial Corporation will post $3.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Monday, August 14th were given a dividend of $0.30 per share. This is a boost from CNA Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Thursday, August 10th. CNA Financial Corporation’s dividend payout ratio (DPR) is 29.20%.

In related news, CFO D Craig Mense sold 23,450 shares of CNA Financial Corporation stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $52.66, for a total transaction of $1,234,877.00. Following the completion of the transaction, the chief financial officer now directly owns 130,548 shares of the company’s stock, valued at approximately $6,874,657.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.

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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Institutional Ownership by Quarter for CNA Financial Corporation (NYSE:CNA)

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