27,198 CNA Financial Corporation $CNA Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in CNA Financial Corporation (NYSE:CNA) by 98.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,908 shares of the insurance provider’s stock after buying an additional 27,198 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CNA Financial were worth $2,464,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in CNA Financial by 34.6% during the 1st quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider’s stock worth $96,482,000 after acquiring an additional 540,448 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of CNA Financial in the 2nd quarter valued at about $80,193,000. CORDA Investment Management LLC. raised its stake in shares of CNA Financial by 3.2% in the 2nd quarter. CORDA Investment Management LLC. now owns 753,707 shares of the insurance provider’s stock valued at $36,638,000 after purchasing an additional 23,488 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of CNA Financial by 48.9% during the first quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider’s stock worth $31,467,000 after purchasing an additional 225,030 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of CNA Financial by 24.8% during the second quarter. Squarepoint Ops LLC now owns 280,337 shares of the insurance provider’s stock worth $13,627,000 after purchasing an additional 55,692 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

CNA Financial Stock Up 0.1%

CNA stock opened at $47.37 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.26 and a quick ratio of 0.27. CNA Financial Corporation has a 1-year low of $41.53 and a 1-year high of $55.71. The firm has a fifty day moving average price of $47.50 and a two-hundred day moving average price of $47.76. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 7.93 and a beta of 0.22.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, November 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.46). CNA Financial had a return on equity of 9.74% and a net margin of 6.80%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. Research analysts predict that CNA Financial Corporation will post 3.94 EPS for the current year.

CNA Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Monday, November 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, November 16th. This represents a $1.92 annualized dividend and a yield of 4.1%. CNA Financial’s dividend payout ratio is 50.66%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CNA shares. Zacks Research upgraded CNA Financial from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings cut CNA Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

CNA Financial Profile

CNA Financial Corporation is a commercial property and casualty insurance company headquartered in Chicago. It provides coverage and related risk-management services to businesses and organizations, with offerings that include property, casualty, workers’ compensation, professional liability and surety insurance.

The company serves customers across the United States and in select international markets. Its products are distributed through independent agents and brokers, and its specialty insurance operations address the needs of businesses in a range of industries.

CNA traces its roots to 1897, when the Continental Assurance Company was established.