CNA Financial (NYSE:CNA) Stock: Insider Douglas Worman Sells 40,000 Shares

Key Points

  • CEO Douglas Worman sold 40,000 CNA Financial shares for about $1.92 million, reducing his direct ownership by 16.68% to 199,749 shares.
  • CNA reported quarterly EPS of $0.75, missing analysts’ $1.21 consensus, while revenue of $3.82 billion exceeded estimates of $3.02 billion.
  • The company announced a quarterly dividend of $0.48 per share, equivalent to an annualized yield of about 4%; analysts’ consensus rating was “Moderate Buy.”

CNA Financial Corporation (NYSE:CNA - Get Free Report) CEO Douglas Worman sold 40,000 shares of CNA Financial stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $48.07, for a total value of $1,922,800.00. Following the sale, the chief executive officer directly owned 199,749 shares in the company, valued at approximately $9,601,934.43. The trade was a 16.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

CNA Financial Trading Up 0.2%

NYSE:CNA opened at $48.33 on Friday. The stock has a market cap of $13.08 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 8.34 and a beta of 0.22. CNA Financial Corporation has a one year low of $41.53 and a one year high of $55.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.26 and a current ratio of 0.26. The business's 50-day simple moving average is $47.48 and its 200 day simple moving average is $47.78.

CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The insurance provider reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.46). CNA Financial had a net margin of 6.80% and a return on equity of 9.74%. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the business earned $1.50 EPS. As a group, sell-side analysts predict that CNA Financial Corporation will post 3.94 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement




The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Monday, November 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, November 16th. CNA Financial's dividend payout ratio is presently 50.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNA. Weiss Ratings cut CNA Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, November 2nd. Zacks Research upgraded shares of CNA Financial from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

View Our Latest Research Report on CNA

Institutional Investors Weigh In On CNA Financial

A number of institutional investors have recently modified their holdings of CNA. Compass Financial Management LLC bought a new position in shares of CNA Financial during the second quarter worth about $36,000. Elevation Wealth Partners LLC grew its stake in CNA Financial by 116.4% in the third quarter. Elevation Wealth Partners LLC now owns 829 shares of the insurance provider's stock worth $37,000 after purchasing an additional 446 shares in the last quarter. NFSG Corp acquired a new position in CNA Financial in the third quarter worth about $44,000. Versant Capital Management Inc increased its holdings in CNA Financial by 25.7% in the third quarter. Versant Capital Management Inc now owns 1,358 shares of the insurance provider's stock valued at $61,000 after buying an additional 278 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in CNA Financial in the second quarter valued at about $69,000. Institutional investors and hedge funds own 98.45% of the company's stock.

About CNA Financial

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].

Insider Buying or Selling at CNA Financial?
Sign-up to receive InsiderTrades.com's daily insider buying and selling report for CNA Financial and related companies.
Free Insider Buying and Selling Newsletter
Enter your email address below to receive InsiderTrades.com's daily insider buying and selling report.
From Our Partners

Most Read This Month

Recent Articles