CNA Financial Co. (NYSE:CNA) Sees Significant Increase in Short Interest

CNA Financial Co. (NYSE:CNA) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 900,200 shares, an increase of 31.5% from the October 31st total of 684,800 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 313,500 shares, the short-interest ratio is currently 2.9 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America raised their price target on shares of CNA Financial from $45.00 to $48.00 and gave the stock an “underperform” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CNA Financial from $54.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, November 8th.

Insiders Place Their Bets

In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the sale, the executive vice president now owns 22,917 shares in the company, valued at approximately $1,159,141.86. The trade was a 44.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Douglas Worman sold 22,973 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares of the company’s stock, valued at approximately $6,521,628.75. The trade was a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of CNA Financial in the 3rd quarter valued at about $36,000. Fairscale Capital LLC acquired a new stake in CNA Financial in the second quarter valued at approximately $55,000. GAMMA Investing LLC increased its position in shares of CNA Financial by 36.9% in the second quarter. GAMMA Investing LLC now owns 1,566 shares of the insurance provider’s stock valued at $72,000 after buying an additional 422 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of CNA Financial during the 2nd quarter worth approximately $92,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of CNA Financial by 17.3% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock worth $95,000 after buying an additional 303 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

CNA Financial Stock Up 0.3 %

CNA Financial stock opened at $50.44 on Monday. The business’s 50-day moving average price is $48.93 and its 200 day moving average price is $47.93. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 6.46 and a beta of 0.65. CNA Financial has a 52 week low of $40.92 and a 52 week high of $52.36.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company earned $1.06 EPS. As a group, sell-side analysts anticipate that CNA Financial will post 4.68 earnings per share for the current year.

CNA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be issued a $0.44 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a yield of 3.49%. CNA Financial’s payout ratio is 36.67%.

About CNA Financial

CNA Financial Corporation provides commercial property and casualty insurance products in the United States and internationally. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company 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 and cyber 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 casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.