Assenagon Asset Management S.A. Takes Position in CNA Financial Corporation $CNA

Assenagon Asset Management S.A. purchased a new stake in shares of CNA Financial Corporation (NYSE:CNA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,142 shares of the insurance provider’s stock, valued at approximately $2,632,000.

A number of other hedge funds also recently added to or reduced their stakes in CNA. Elevation Wealth Partners LLC purchased a new stake in CNA Financial during the 4th quarter valued at $53,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of CNA Financial by 19.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,458 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 2,622 shares during the last quarter. Abner Herrman & Brock LLC bought a new position in shares of CNA Financial during the fourth quarter valued at $716,000. Board of the Pension Protection Fund lifted its holdings in shares of CNA Financial by 16.3% during the fourth quarter. Board of the Pension Protection Fund now owns 31,400 shares of the insurance provider’s stock valued at $1,499,000 after purchasing an additional 4,400 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of CNA Financial by 55.1% during the third quarter. JPMorgan Chase & Co. now owns 10,176 shares of the insurance provider’s stock valued at $473,000 after buying an additional 3,613 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CNA Financial

In other news, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $47.62, for a total value of $297,625.00. Following the completion of the sale, the chairman directly owned 661,838 shares in the company, valued at $31,516,725.56. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeffrey John Neuenschwander sold 3,287 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $45.97, for a total value of $151,103.39. Following the completion of the transaction, the senior vice president directly owned 7,277 shares in the company, valued at approximately $334,523.69. This represents a 31.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by company insiders.

CNA Financial Stock Up 1.5%

CNA stock opened at $45.56 on Tuesday. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 6.50 and a beta of 0.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50-day moving average is $47.60 and its two-hundred day moving average is $46.70. CNA Financial Corporation has a fifty-two week low of $43.29 and a fifty-two week high of $51.29.

CNA Financial (NYSE:CNA) last released its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). CNA Financial had a net margin of 8.53% and a return on equity of 12.23%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. As a group, analysts forecast that CNA Financial Corporation will post 4.64 earnings per share for the current year.

CNA Financial Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, February 23rd were issued a dividend of $2.00 per share. This represents a yield of 409.0%. The ex-dividend date of this dividend was Monday, February 23rd. CNA Financial’s dividend payout ratio is currently 40.94%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings raised CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Wall Street Zen lowered shares of CNA Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Zacks Research cut shares of CNA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.