CNA Financial Co. (NYSE:CNA) Short Interest Up 31.5% in November

CNA Financial Co. (NYSE:CNA) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 900,200 shares, an increase of 31.5% from the October 31st total of 684,800 shares. Based on an average daily trading volume, of 313,500 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.3% of the company’s shares are sold short.

CNA Financial Price Performance

NYSE CNA opened at $50.44 on Monday. The company has a market cap of $13.66 billion, a PE ratio of 10.51, a P/E/G ratio of 6.46 and a beta of 0.65. The firm’s 50 day moving average price is $48.93 and its 200-day moving average price is $47.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26. CNA Financial has a 52-week low of $40.92 and a 52-week high of $52.36.

CNA Financial (NYSE:CNA) last announced its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.01. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.15 billion. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. During the same quarter last year, the firm earned $1.06 EPS. Sell-side analysts forecast that CNA Financial will post 4.68 EPS for the current fiscal year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a yield of 3.49%. CNA Financial’s dividend payout ratio is presently 36.67%.

Insider Activity

In related news, EVP Douglas Worman sold 22,973 shares of CNA Financial stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the sale, the executive vice president now owns 133,777 shares in the company, valued at $6,521,628.75. This trade represents a 14.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Steven James sold 18,547 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the transaction, the executive vice president now owns 22,917 shares in the company, valued at $1,159,141.86. This represents a 44.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of CNA Financial

Several hedge funds have recently modified their holdings of the company. True Wealth Design LLC bought a new position in shares of CNA Financial during the 3rd quarter worth approximately $36,000. Fairscale Capital LLC purchased a new position in CNA Financial in the second quarter worth $55,000. GAMMA Investing LLC increased its position in shares of CNA Financial by 36.9% during the second quarter. GAMMA Investing LLC now owns 1,566 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 422 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of CNA Financial during the second quarter worth $92,000. Finally, Blue Trust Inc. purchased a new stake in shares of CNA Financial during the 2nd quarter valued at $94,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CNA shares. Bank of America boosted their price target on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods raised their price target on CNA Financial from $54.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, November 8th.

CNA Financial Company 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.