Torray Investment Partners LLC Sells 23,056 Shares of CNA Financial Corporation $CNA

Torray Investment Partners LLC reduced its stake in shares of CNA Financial Corporation (NYSE:CNA) by 4.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 470,346 shares of the insurance provider’s stock after selling 23,056 shares during the period. CNA Financial makes up approximately 3.2% of Torray Investment Partners LLC’s portfolio, making the stock its 10th largest position. Torray Investment Partners LLC’s holdings in CNA Financial were worth $21,598,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CNA. Amundi lifted its stake in shares of CNA Financial by 5.3% in the first quarter. Amundi now owns 7,787 shares of the insurance provider’s stock valued at $395,000 after purchasing an additional 389 shares during the period. Goldman Sachs Group Inc. boosted its holdings in CNA Financial by 0.7% during the first quarter. Goldman Sachs Group Inc. now owns 351,997 shares of the insurance provider’s stock worth $17,878,000 after buying an additional 2,466 shares in the last quarter. Empowered Funds LLC grew its position in CNA Financial by 12.9% during the first quarter. Empowered Funds LLC now owns 5,966 shares of the insurance provider’s stock worth $303,000 after buying an additional 684 shares during the period. Focus Partners Wealth acquired a new position in CNA Financial during the first quarter worth about $281,000. Finally, Quantbot Technologies LP acquired a new position in CNA Financial during the second quarter worth about $55,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

CNA Financial Price Performance

Shares of NYSE CNA traded up $0.47 on Friday, hitting $51.38. The company’s stock had a trading volume of 335,492 shares, compared to its average volume of 596,202. CNA Financial Corporation has a 12-month low of $41.53 and a 12-month high of $52.86. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 7.02 and a beta of 0.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a 50 day moving average of $45.54 and a 200-day moving average of $46.77.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.83 earnings per share 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 analysts’ expectations of $2.93 billion. During the same period last year, the business earned $1.03 earnings per share. As a group, research analysts predict that CNA Financial Corporation will post 4.05 EPS for the current 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 issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 18th. CNA Financial’s payout ratio is 42.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CNA shares. Zacks Research lowered CNA Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Weiss Ratings raised CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, CNA Financial presently has a consensus rating of “Hold”.

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.