JPMorgan Chase & Co. Sells 21,202 Shares of CNA Financial Co. (NYSE:CNA)

JPMorgan Chase & Co. decreased its position in CNA Financial Co. (NYSE:CNA) by 75.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,866 shares of the insurance provider’s stock after selling 21,202 shares during the quarter. JPMorgan Chase & Co.’s holdings in CNA Financial were worth $332,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of CNA Financial by 66.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,177,110 shares of the insurance provider’s stock worth $56,937,000 after buying an additional 468,058 shares in the last quarter. Raymond James Financial Inc. bought a new position in CNA Financial in the 4th quarter valued at $13,129,000. Ieq Capital LLC boosted its stake in CNA Financial by 276.3% in the fourth quarter. Ieq Capital LLC now owns 82,893 shares of the insurance provider’s stock worth $4,010,000 after purchasing an additional 60,867 shares in the last quarter. AGF Management Ltd. bought a new stake in shares of CNA Financial during the fourth quarter worth $2,533,000. Finally, Prudential Financial Inc. increased its stake in shares of CNA Financial by 250.8% in the fourth quarter. Prudential Financial Inc. now owns 45,137 shares of the insurance provider’s stock valued at $2,211,000 after buying an additional 32,270 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Transactions at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $47.61, for a total transaction of $297,562.50. Following the completion of the transaction, the chairman now owns 711,838 shares in the company, valued at approximately $33,890,607.18. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Paul Franzetti sold 12,991 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.06, for a total transaction of $637,338.46. Following the completion of the sale, the chief accounting officer now owns 75,612 shares in the company, valued at approximately $3,709,524.72. This trade represents a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,741 shares of company stock worth $1,559,401 in the last three months. Insiders own 0.30% of the company’s stock.

CNA Financial Price Performance

CNA Financial stock opened at $48.29 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.28. CNA Financial Co. has a 12-month low of $42.33 and a 12-month high of $52.36. The stock has a market cap of $13.05 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 9.23 and a beta of 0.47. The business’s 50-day simple moving average is $48.46 and its 200 day simple moving average is $48.68.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.14. CNA Financial had a net margin of 6.72% and a return on equity of 12.90%. As a group, research analysts anticipate that CNA Financial Co. will post 4.64 earnings per share for the current year.

CNA Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.46 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from CNA Financial’s previous quarterly dividend of $0.44. CNA Financial’s dividend payout ratio is 52.27%.

Analyst Ratings Changes

Several brokerages recently issued reports on CNA. Keefe, Bruyette & Woods reduced their price target on shares of CNA Financial from $54.00 to $53.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. StockNews.com cut shares of CNA Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

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.