Renaissance Technologies LLC Grows Stock Position in Cna Financial Corp (NYSE:CNA)
Renaissance Technologies LLC raised its position in Cna Financial Corp (NYSE:CNA) by 21.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,006,400 shares of the insurance provider’s stock after buying an additional 174,900 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of Cna Financial worth $47,371,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Signaturefd LLC raised its holdings in Cna Financial by 23.6% during the 2nd quarter. Signaturefd LLC now owns 1,565 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 299 shares during the period. Quantamental Technologies LLC purchased a new stake in shares of Cna Financial in the second quarter worth about $176,000. Hartford Investment Management Co. bought a new position in shares of Cna Financial in the second quarter valued at approximately $205,000. First Allied Advisory Services Inc. purchased a new position in Cna Financial during the second quarter valued at approximately $211,000. Finally, Botty Investors LLC purchased a new position in Cna Financial during the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 99.15% of the company’s stock.
Separately, Zacks Investment Research cut shares of Cna Financial from a “hold” rating to a “sell” rating and set a $49.00 target price on the stock. in a research note on Tuesday, August 6th.
Cna Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, August 5th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Cna Financial had a return on equity of 7.83% and a net margin of 8.44%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $0.99 earnings per share. On average, sell-side analysts anticipate that Cna Financial Corp will post 4.18 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Friday, August 16th. Cna Financial’s dividend payout ratio is currently 45.16%.
About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.
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