SummitTX Capital L.P. Purchases Shares of 26,218 CNA Financial Corporation $CNA

SummitTX Capital L.P. acquired a new position in shares of CNA Financial Corporation (NYSE:CNA) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,218 shares of the insurance provider’s stock, valued at approximately $1,204,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CNA. AQR Capital Management LLC grew its position in shares of CNA Financial by 14.6% in the fourth quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider’s stock valued at $132,941,000 after purchasing an additional 354,076 shares during the last quarter. First Trust Advisors LP grew its stake in shares of CNA Financial by 34.6% in the first quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider’s stock valued at $96,482,000 after acquiring an additional 540,448 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CNA Financial by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 890,953 shares of the insurance provider’s stock worth $42,534,000 after acquiring an additional 2,348 shares during the period. UBS Group AG increased its position in CNA Financial by 25.9% during the fourth quarter. UBS Group AG now owns 867,787 shares of the insurance provider’s stock worth $41,428,000 after acquiring an additional 178,314 shares during the period. Finally, CORDA Investment Management LLC. increased its position in CNA Financial by 1.4% during the first quarter. CORDA Investment Management LLC. now owns 730,219 shares of the insurance provider’s stock worth $33,532,000 after acquiring an additional 10,054 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CNA shares. Zacks Research raised shares of CNA Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. Weiss Ratings raised CNA Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, CNA Financial currently has an average rating of “Moderate Buy”.

CNA Financial Stock Down 0.4%

Shares of CNA opened at $55.11 on Thursday. The firm has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $47.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.26 and a quick ratio of 0.26. CNA Financial Corporation has a one year low of $41.53 and a one year high of $55.71. The company has a market cap of $14.91 billion, a P/E ratio of 12.33, a P/E/G ratio of 7.56 and a beta of 0.28.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.47). CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm posted $1.03 EPS. Research analysts forecast that CNA Financial Corporation will post 4.09 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, May 18th. CNA Financial’s dividend payout ratio (DPR) is presently 42.95%.

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.