Pacifica Capital Investments LLC Cuts Holdings in CNA Financial Co. (NYSE:CNA)

Pacifica Capital Investments LLC trimmed its holdings in shares of CNA Financial Co. (NYSE:CNA) by 27.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,154 shares of the insurance provider’s stock after selling 13,500 shares during the quarter. CNA Financial makes up approximately 0.5% of Pacifica Capital Investments LLC’s investment portfolio, making the stock its 12th biggest holding. Pacifica Capital Investments LLC’s holdings in CNA Financial were worth $1,597,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CENTRAL TRUST Co acquired a new stake in CNA Financial in the fourth quarter valued at approximately $25,000. Blue Trust Inc. acquired a new stake in CNA Financial in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new stake in CNA Financial in the fourth quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC acquired a new stake in CNA Financial in the fourth quarter valued at approximately $48,000. Finally, New York State Teachers Retirement System acquired a new stake in CNA Financial in the fourth quarter valued at approximately $99,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CNA Financial

In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $44.78, for a total transaction of $1,043,418.78. Following the completion of the transaction, the chief accounting officer now directly owns 63,996 shares in the company, valued at $2,865,740.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by insiders.

CNA Financial Stock Performance

Shares of NYSE:CNA traded up $0.71 on Wednesday, hitting $46.19. 253,452 shares of the company were exchanged, compared to its average volume of 256,493. CNA Financial Co. has a 1-year low of $37.54 and a 1-year high of $47.37. The stock’s 50 day moving average price is $44.74 and its 200 day moving average price is $44.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $12.53 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 2.72 and a beta of 0.64.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.07). The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $2.94 billion. CNA Financial had a return on equity of 14.27% and a net margin of 9.17%. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Sell-side analysts predict that CNA Financial Co. will post 4.94 EPS for the current year.

CNA Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Monday, May 20th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from CNA Financial’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a yield of 3.81%. CNA Financial’s payout ratio is currently 38.43%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNA. Keefe, Bruyette & Woods raised their target price on shares of CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.

About CNA Financial

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.