Key Points
- Chairman Dino Robusto sold 6,250 shares on Jan. 2 at an average price of $47.62 for $297,625, the third consecutive monthly sale (also 6,250 shares on Dec. 1 and Nov. 3); his stake fell 0.94% but he still owns 661,838 shares (~$31.5M).
- CNA beat quarterly expectations with $1.50 EPS vs. $1.25 expected and $3.82B revenue, the stock trades at a P/E of 12.8 and pays a $1.84 annual dividend (3.9% yield).
- Brokerages have trimmed ratings to a consensus "Hold" (average target $53) while institutional investors control about 98.45% of the shares.
CNA Financial Corporation (NYSE:CNA - Get Free Report) Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $47.62, for a total transaction of $297,625.00. Following the completion of the transaction, the chairman owned 661,838 shares in the company, valued at approximately $31,516,725.56. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Dino Robusto also recently made the following trade(s):
- On Monday, December 1st, Dino Robusto sold 6,250 shares of CNA Financial stock. The shares were sold at an average price of $46.92, for a total transaction of $293,250.00.
- On Monday, November 3rd, Dino Robusto sold 6,250 shares of CNA Financial stock. The stock was sold at an average price of $45.28, for a total transaction of $283,000.00.
CNA Financial Stock Performance
Shares of NYSE CNA opened at $46.72 on Wednesday. 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 firm's 50-day moving average price is $46.27 and its two-hundred day moving average price is $46.29. CNA Financial Corporation has a 52-week low of $43.29 and a 52-week high of $51.34. The stock has a market capitalization of $12.65 billion, a P/E ratio of 12.80, a P/E/G ratio of 3.97 and a beta of 0.37.
CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings results on Monday, November 3rd. The insurance provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.25. The business had revenue of $3.82 billion for the quarter, compared to analysts' expectations of $2.84 billion. CNA Financial had a return on equity of 12.78% and a net margin of 6.71%.During the same period in the prior year, the firm earned $1.08 EPS. As a group, sell-side analysts forecast that CNA Financial Corporation will post 4.64 earnings per share for the current year.
CNA Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.84 annualized dividend and a yield of 3.9%. CNA Financial's dividend payout ratio (DPR) is currently 50.41%.
Institutional Investors Weigh In On CNA Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Abner Herrman & Brock LLC bought a new position in CNA Financial in the 4th quarter valued at about $716,000. Board of the Pension Protection Fund lifted its stake in shares of CNA Financial by 16.3% in the 4th quarter. Board of the Pension Protection Fund now owns 31,400 shares of the insurance provider's stock worth $1,499,000 after acquiring an additional 4,400 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of CNA Financial by 55.1% in the third quarter. JPMorgan Chase & Co. now owns 10,176 shares of the insurance provider's stock valued at $473,000 after acquiring an additional 3,613 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of CNA Financial by 125.1% in the third quarter. Tudor Investment Corp ET AL now owns 164,121 shares of the insurance provider's stock valued at $7,625,000 after acquiring an additional 91,205 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of CNA Financial by 142.7% during the third 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 during the period. 98.45% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CNA. Wall Street Zen downgraded shares of CNA Financial from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research lowered shares of CNA Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of CNA Financial in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CNA Financial has an average rating of "Hold" and an average target price of $53.00.
View Our Latest Research Report on CNA
About CNA Financial
(
Get Free Report)
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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