CNA Financial (NYSE:CNA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

CNA Financial Corporation (NYSE:CNA)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $46.31 and traded as high as $46.50. CNA Financial shares last traded at $46.3110, with a volume of 265,929 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded CNA Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of CNA Financial in a research note on Monday, December 29th. Finally, Zacks Research downgraded CNA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, CNA Financial currently has an average rating of “Hold” and an average target price of $53.00.

CNA Financial Trading Down 0.2%

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 stock has a market capitalization of $12.53 billion, a PE ratio of 12.69, a P/E/G ratio of 3.88 and a beta of 0.37. The company has a 50 day moving average of $46.59 and a two-hundred day moving average of $46.31.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, November 3rd. The insurance provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.25. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. CNA Financial had a return on equity of 12.78% and a net margin of 6.71%.During the same quarter in the previous year, the business earned $1.08 EPS. Sell-side analysts predict that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, November 17th. CNA Financial’s dividend payout ratio is currently 50.41%.

Insider Activity at CNA Financial

In other news, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $47.62, for a total transaction of $297,625.00. Following the completion of the transaction, the chairman directly owned 661,838 shares of the company’s stock, valued at $31,516,725.56. This represents a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders sold 18,750 shares of company stock worth $873,875. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNA. CORDA Investment Management LLC. boosted its position in shares of CNA Financial by 2.5% during the 3rd quarter. CORDA Investment Management LLC. now owns 701,884 shares of the insurance provider’s stock worth $32,610,000 after purchasing an additional 17,046 shares during the period. HB Wealth Management LLC lifted its stake in CNA Financial by 104.3% during the second quarter. HB Wealth Management LLC now owns 10,701 shares of the insurance provider’s stock worth $498,000 after purchasing an additional 5,464 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of CNA Financial by 145.6% during the second quarter. Russell Investments Group Ltd. now owns 214,575 shares of the insurance provider’s stock worth $9,984,000 after buying an additional 127,223 shares during the period. Patrick Mauro Investment Advisor INC. grew its stake in shares of CNA Financial by 13.3% in the second quarter. Patrick Mauro Investment Advisor INC. now owns 145,703 shares of the insurance provider’s stock valued at $6,599,000 after buying an additional 17,048 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in shares of CNA Financial in the second quarter valued at $1,153,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About CNA Financial

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.