California Public Employees Retirement System grew its position in Cna Financial Corp (NYSE:CNA) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,440 shares of the insurance provider’s stock after purchasing an additional 2,700 shares during the quarter. California Public Employees Retirement System’s holdings in Cna Financial were worth $6,102,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Acrospire Investment Management LLC lifted its stake in shares of Cna Financial by 111.1% during the second quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock worth $102,000 after buying an additional 1,100 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Cna Financial by 87.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,774 shares of the insurance provider’s stock worth $146,000 after buying an additional 1,294 shares during the period. Koch Industries Inc. acquired a new stake in shares of Cna Financial during the second quarter worth $203,000. Magnetar Financial LLC acquired a new stake in shares of Cna Financial during the third quarter worth $204,000. Finally, SG Americas Securities LLC lifted its stake in shares of Cna Financial by 37.9% during the third quarter. SG Americas Securities LLC now owns 4,386 shares of the insurance provider’s stock worth $220,000 after buying an additional 1,205 shares during the period. 99.69% of the stock is currently owned by institutional investors and hedge funds.
CNA has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price objective on shares of Cna Financial in a research note on Thursday, September 21st. ValuEngine downgraded shares of Cna Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research downgraded shares of Cna Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Cna Financial has a consensus rating of “Hold” and a consensus target price of $53.33.
Cna Financial (NYSE:CNA) last posted its earnings results on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.27). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.37 billion. Cna Financial had a net margin of 9.67% and a return on equity of 7.14%. During the same quarter in the prior year, the firm earned $1.15 earnings per share. equities analysts anticipate that Cna Financial Corp will post 3.07 EPS for the current fiscal year.
About Cna Financial
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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