CNA Financial (NYSE:CNA) CEO Sells 40,000 Shares of Stock

CNA Financial Corporation (NYSE:CNA) CEO Douglas Worman sold 40,000 shares of CNA Financial stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $48.07, for a total value of $1,922,800.00. Following the completion of the transaction, the chief executive officer owned 199,749 shares in the company, valued at $9,601,934.43. This trade represents a 16.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CNA Financial Stock Down 0.2%

CNA Financial stock traded down $0.10 during trading hours on Thursday, reaching $48.15. The stock had a trading volume of 41,300 shares, compared to its average volume of 480,701. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 8.32 and a beta of 0.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.26 and a quick ratio of 0.26. The business’s 50 day moving average price is $47.48 and its 200-day moving average price is $47.77. CNA Financial Corporation has a 52 week low of $41.53 and a 52 week high of $55.71.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, November 2nd. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.46). CNA Financial had a return on equity of 9.74% and a net margin of 6.80%. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm earned $1.50 EPS. Sell-side analysts anticipate that CNA Financial Corporation will post 3.94 EPS for the current year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Monday, November 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, November 16th. CNA Financial’s dividend payout ratio (DPR) is 50.66%.

Analysts Set New Price Targets

CNA has been the topic of several analyst reports. Weiss Ratings lowered shares of CNA Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Zacks Research upgraded CNA Financial from a “strong sell” rating to a “hold” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, CNA Financial currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of CNA Financial in the second quarter worth $80,193,000. First Trust Advisors LP grew its holdings in shares of CNA Financial by 34.6% during the first quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider’s stock valued at $96,482,000 after buying an additional 540,448 shares during the last quarter. Quantinno Capital Management LP lifted its position in CNA Financial by 48.9% during the 1st quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider’s stock worth $31,467,000 after acquiring an additional 225,030 shares during the period. Edgestream Partners L.P. purchased a new stake in CNA Financial during the 3rd quarter valued at about $9,005,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CNA Financial during the 2nd quarter valued at about $9,267,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

About CNA Financial

CNA Financial Corporation is a commercial property and casualty insurance company headquartered in Chicago. It provides coverage and related risk-management services to businesses and organizations, with offerings that include property, casualty, workers’ compensation, professional liability and surety insurance. The company serves customers across the United States and in select international markets. Its products are distributed through independent agents and brokers, and its specialty insurance operations address the needs of businesses in a range of industries.