Summit Global Investments Has $623,000 Stock Holdings in CNA Financial Co. (NYSE:CNA)

Summit Global Investments lowered its position in shares of CNA Financial Co. (NYSE:CNA) by 35.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,726 shares of the insurance provider’s stock after selling 8,053 shares during the quarter. Summit Global Investments’ holdings in CNA Financial were worth $623,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co bought a new position in shares of CNA Financial in the fourth quarter valued at approximately $25,000. Blue Trust Inc. acquired a new position in CNA Financial in the fourth quarter worth $27,000. GAMMA Investing LLC bought a new stake in shares of CNA Financial during the fourth quarter worth $39,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of CNA Financial in the fourth quarter valued at $48,000. Finally, Covestor Ltd raised its holdings in shares of CNA Financial by 36.2% in the third quarter. Covestor Ltd now owns 1,903 shares of the insurance provider’s stock valued at $75,000 after buying an additional 506 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNA. Keefe, Bruyette & Woods raised their price objective on shares of CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Bank of America downgraded CNA Financial from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $39.00 to $43.00 in a report on Tuesday, February 6th. Finally, StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, February 14th.

CNA Financial Stock Down 0.4 %

Shares of NYSE:CNA opened at $44.40 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.76 and a beta of 0.63. The company has a 50 day moving average of $44.04 and a 200-day moving average of $42.91. CNA Financial Co. has a one year low of $36.41 and a one year high of $47.37.

CNA Financial (NYSE:CNA) last released its earnings results on Monday, February 5th. The insurance provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. CNA Financial had a net margin of 9.06% and a return on equity of 14.33%. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business earned $1.01 EPS. On average, sell-side analysts forecast that CNA Financial Co. will post 5.03 earnings per share for the current year.

CNA Financial Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th were issued a dividend of $2.44 per share. The ex-dividend date was Friday, February 16th. This represents a yield of 3.8%. This is a boost from CNA Financial’s previous None dividend of $1.62. CNA Financial’s dividend payout ratio (DPR) is 39.73%.

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.