Convergence Investment Partners LLC Acquires 2,505 Shares of CNA Financial Co. (NYSE:CNA)

Convergence Investment Partners LLC raised its holdings in shares of CNA Financial Co. (NYSE:CNA) by 15.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,478 shares of the insurance provider’s stock after acquiring an additional 2,505 shares during the quarter. Convergence Investment Partners LLC’s holdings in CNA Financial were worth $894,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. New York State Common Retirement Fund grew its position in CNA Financial by 366.7% in the third quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock valued at $68,591,000 after purchasing an additional 1,101,217 shares in the last quarter. River Road Asset Management LLC grew its stake in CNA Financial by 0.6% in the third quarter. River Road Asset Management LLC now owns 1,012,492 shares of the insurance provider’s stock valued at $49,551,000 after purchasing an additional 5,539 shares in the last quarter. Jane Street Group LLC increased its position in shares of CNA Financial by 158.0% during the 3rd quarter. Jane Street Group LLC now owns 288,443 shares of the insurance provider’s stock worth $14,116,000 after purchasing an additional 176,649 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of CNA Financial during the 3rd quarter worth approximately $7,585,000. Finally, Cyndeo Wealth Partners LLC boosted its holdings in shares of CNA Financial by 6.2% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 132,259 shares of the insurance provider’s stock valued at $6,397,000 after buying an additional 7,767 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

CNA Financial Stock Up 0.1 %

CNA stock opened at $49.35 on Thursday. CNA Financial Co. has a 1-year low of $42.33 and a 1-year high of $52.36. The firm has a market capitalization of $13.37 billion, a PE ratio of 14.02, a PEG ratio of 9.04 and a beta of 0.66. The business’s 50 day simple moving average is $48.48 and its 200 day simple moving average is $49.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA) last released its quarterly earnings data on Monday, February 10th. The insurance provider reported $1.25 EPS for the quarter, beating the consensus estimate 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 EPS for the current year.

CNA Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be given a $0.46 dividend. This is an increase from CNA Financial’s previous quarterly dividend of $0.44. The ex-dividend date is Monday, February 24th. This represents a $1.84 annualized dividend and a dividend yield of 3.73%. CNA Financial’s dividend payout ratio is presently 50.00%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of CNA Financial from $54.00 to $53.00 and set a “market perform” rating for the company in a research note on Wednesday, February 12th. StockNews.com downgraded shares of CNA Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

CNA Financial 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.