Deutsche Bank AG bought a new position in shares of CNA Financial Corporation (NYSE:CNA – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 102,517 shares of the insurance provider’s stock, valued at approximately $4,983,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lloyd Advisory Services LLC. bought a new position in shares of CNA Financial in the fourth quarter valued at about $25,000. State of Wyoming bought a new stake in CNA Financial during the 2nd quarter worth about $53,000. Quantbot Technologies LP acquired a new stake in CNA Financial in the 2nd quarter valued at about $55,000. CIBC Private Wealth Group LLC increased its position in CNA Financial by 142.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,223 shares of the insurance provider’s stock valued at $57,000 after acquiring an additional 719 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of CNA Financial by 28.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider’s stock worth $67,000 after acquiring an additional 318 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CAO Daniel Paul Franzetti sold 22,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total transaction of $1,202,807.04. Following the completion of the sale, the chief accounting officer directly owned 68,032 shares of the company’s stock, valued at $3,611,818.88. The trade was a 24.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark Steven James sold 8,273 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $53.15, for a total transaction of $439,709.95. Following the completion of the transaction, the executive vice president directly owned 26,446 shares in the company, valued at approximately $1,405,604.90. The trade was a 23.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company’s stock.
CNA Financial Price Performance
CNA Financial (NYSE:CNA – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.11. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the business posted $1.23 EPS. As a group, research analysts anticipate that CNA Financial Corporation will post 4.19 earnings per share for the current year.
CNA Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, August 17th. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. CNA Financial’s payout ratio is currently 42.20%.
Wall Street Analyst Weigh In
Several research firms have recently commented on CNA. Weiss Ratings raised shares of CNA Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 17th. Zacks Research upgraded shares of CNA Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on CNA Financial
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.
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