Private Management Group Inc. Trims Stake in CNA Financial Co. (NYSE:CNA)

Private Management Group Inc. lowered its stake in shares of CNA Financial Co. (NYSE:CNA) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 871,390 shares of the insurance provider’s stock after selling 3,817 shares during the quarter. CNA Financial comprises 1.4% of Private Management Group Inc.’s portfolio, making the stock its 13th largest position. Private Management Group Inc.’s holdings in CNA Financial were worth $36,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. CENTRAL TRUST Co bought a new stake in CNA Financial during the fourth quarter worth about $25,000. Blue Trust Inc. bought a new stake in CNA Financial during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new stake in CNA Financial during the fourth quarter worth about $39,000. Allspring Global Investments Holdings LLC bought a new stake in CNA Financial during the fourth quarter worth about $48,000. Finally, CWM LLC lifted its position in CNA Financial by 84.7% in the 3rd quarter. CWM LLC now owns 1,398 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Stock Performance

Shares of NYSE CNA traded down $0.39 during midday trading on Tuesday, hitting $44.17. 163,810 shares of the stock traded hands, compared to its average volume of 218,023. The firm has a 50-day moving average of $44.18 and a two-hundred day moving average of $42.72. The firm has a market capitalization of $11.97 billion, a P/E ratio of 9.97, a PEG ratio of 1.77 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26. CNA Financial Co. has a one year low of $36.41 and a one year high of $47.37.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.10 by $0.23. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $2.95 billion. CNA Financial had a return on equity of 14.33% and a net margin of 9.06%. During the same period in the prior year, the business posted $1.01 EPS. On average, equities analysts forecast that CNA Financial Co. will post 5.03 EPS for the current fiscal year.

CNA Financial Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were paid a $2.44 dividend. This represents a dividend yield of 3.8%. This is a positive change from CNA Financial’s previous None dividend of $1.62. The ex-dividend date of this dividend was Friday, February 16th. CNA Financial’s dividend payout ratio is 39.73%.

Analysts Set New Price Targets

Several research firms recently issued reports on CNA. Bank of America cut CNA Financial from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $39.00 to $43.00 in a research report on Tuesday, February 6th. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods increased their price target on CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th.

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.