Point72 Asia Singapore Pte. Ltd. Purchases New Position in CNA Financial Co. (NYSE:CNA)

Point72 Asia Singapore Pte. Ltd. acquired a new position in CNA Financial Co. (NYSE:CNA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,989 shares of the insurance provider’s stock, valued at approximately $146,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. New York State Common Retirement Fund grew its holdings in CNA Financial by 366.7% in the third quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock worth $68,591,000 after purchasing an additional 1,101,217 shares during the period. AQR Capital Management LLC grew its holdings in CNA Financial by 97.9% in the second quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock worth $51,760,000 after purchasing an additional 570,172 shares during the period. Bank of New York Mellon Corp grew its holdings in CNA Financial by 45.5% in the second quarter. Bank of New York Mellon Corp now owns 1,068,956 shares of the insurance provider’s stock worth $49,247,000 after purchasing an additional 334,463 shares during the period. River Road Asset Management LLC grew its holdings in CNA Financial by 0.6% in the third quarter. River Road Asset Management LLC now owns 1,012,492 shares of the insurance provider’s stock worth $49,551,000 after purchasing an additional 5,539 shares during the period. Finally, Vanguard Group Inc. grew its holdings in CNA Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock worth $32,079,000 after purchasing an additional 7,201 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

CNA has been the topic of several analyst reports. Bank of America upped their target price on shares of CNA Financial from $45.00 to $48.00 and gave the stock an “underperform” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods upped their target price on shares of CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Insider Activity at CNA Financial

In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.58, for a total value of $938,107.26. Following the transaction, the executive vice president now directly owns 22,917 shares in the company, valued at approximately $1,159,141.86. This trade represents a 44.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas Worman sold 22,973 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares in the company, valued at $6,521,628.75. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

CNA Financial Stock Up 0.8 %

Shares of CNA Financial stock opened at $49.80 on Thursday. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 6.38 and a beta of 0.66. The company’s 50 day moving average is $48.94 and its 200 day moving average is $48.01. CNA Financial Co. has a twelve month low of $40.92 and a twelve month high of $52.36. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Research analysts anticipate that CNA Financial Co. will post 4.68 EPS for the current year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a yield of 3.53%. CNA Financial’s dividend payout ratio (DPR) is 36.67%.

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.