CNA Financial (NYSE:CNA) Shares Pass Above 200 Day Moving Average – Should You Sell?
by Renee Jackson · The Cerbat GemCNA Financial Corporation (NYSE:CNA – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $46.74 and traded as high as $47.71. CNA Financial shares last traded at $47.4270, with a volume of 320,277 shares traded.
Wall Street Analyst Weigh In
CNA has been the subject of several recent research reports. Wall Street Zen downgraded CNA Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Zacks Research downgraded CNA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings upgraded CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.
Check Out Our Latest Research Report on CNA
CNA Financial Stock Performance
The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.26. The company has a market cap of $13.01 billion, a P/E ratio of 10.28, a P/E/G ratio of 6.87 and a beta of 0.35. The business has a fifty day moving average of $47.38 and a 200 day moving average of $46.77.
CNA Financial (NYSE:CNA – Get Free Report) last announced its earnings results on Monday, February 9th. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.04). The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $2.88 billion. CNA Financial had a net margin of 8.53% and a return on equity of 12.23%. During the same quarter in the prior year, the company earned $1.25 EPS. On average, equities analysts predict that CNA Financial Corporation will post 4.64 EPS for the current year.
CNA Financial Announces Dividend
The firm also recently announced an annual dividend, which was paid on Thursday, March 12th. Investors of record on Monday, February 23rd were issued a dividend of $2.00 per share. This represents a dividend yield of 409.0%. The ex-dividend date was Monday, February 23rd. CNA Financial’s dividend payout ratio is currently 40.94%.
Insider Activity at CNA Financial
In related news, SVP Jeffrey John Neuenschwander sold 3,287 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $45.97, for a total transaction of $151,103.39. Following the completion of the transaction, the senior vice president owned 7,277 shares in the company, valued at $334,523.69. This represents a 31.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CNA Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in CNA. Millennium Management LLC raised its holdings in shares of CNA Financial by 409.1% during the third quarter. Millennium Management LLC now owns 604,963 shares of the insurance provider’s stock valued at $28,107,000 after acquiring an additional 486,127 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in CNA Financial by 1,509,521.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 483,079 shares of the insurance provider’s stock worth $23,062,000 after purchasing an additional 483,047 shares during the period. M&T Bank Corp grew its stake in CNA Financial by 8,100.7% in the fourth quarter. M&T Bank Corp now owns 484,580 shares of the insurance provider’s stock worth $23,134,000 after purchasing an additional 478,671 shares during the period. First Trust Advisors LP grew its stake in CNA Financial by 31.8% in the fourth quarter. First Trust Advisors LP now owns 1,560,644 shares of the insurance provider’s stock worth $74,505,000 after purchasing an additional 376,752 shares during the period. Finally, AQR Capital Management LLC grew its stake in CNA Financial by 14.6% in the fourth quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider’s stock worth $132,941,000 after purchasing an additional 354,076 shares during the period. Institutional investors own 98.45% of the company’s stock.
CNA Financial Company Profile
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.