Geode Capital Management LLC Reduces Position in CNA Financial Co. (NYSE:CNA)

Geode Capital Management LLC decreased its position in shares of CNA Financial Co. (NYSE:CNA) by 21.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 298,024 shares of the insurance provider’s stock after selling 79,690 shares during the quarter. Geode Capital Management LLC owned approximately 0.11% of CNA Financial worth $14,590,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNA. True Wealth Design LLC purchased a new position in shares of CNA Financial during the 3rd quarter valued at $36,000. Fairscale Capital LLC bought a new stake in CNA Financial in the 2nd quarter valued at $55,000. Abich Financial Wealth Management LLC increased its holdings in CNA Financial by 17.3% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 303 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in CNA Financial in the 3rd quarter valued at $146,000. Finally, Blue Trust Inc. increased its holdings in CNA Financial by 74.8% in the 3rd quarter. Blue Trust Inc. now owns 3,635 shares of the insurance provider’s stock valued at $167,000 after acquiring an additional 1,555 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

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

CNA Financial Stock Performance

CNA Financial stock opened at $48.28 on Tuesday. The company’s 50-day moving average price is $48.89 and its 200-day moving average price is $48.53. CNA Financial Co. has a twelve month low of $41.64 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. The company has a market cap of $13.08 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66.

CNA Financial (NYSE:CNA) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities research analysts forecast that CNA Financial Co. will post 4.68 EPS for the current fiscal year.

CNA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Monday, November 18th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. CNA Financial’s dividend payout ratio is presently 36.67%.

Insider Buying and Selling

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 transaction, the executive vice president now directly owns 133,777 shares of the company’s stock, valued at approximately $6,521,628.75. The trade was a 14.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

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.