CNA Financial (NYSE:CNA) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

CNA Financial (NYSE:CNA) issued its quarterly earnings results on Monday. The insurance provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.11, FiscalAI reports. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $2.97 billion. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.During the same quarter in the prior year, the business earned $1.23 EPS.

CNA Financial Stock Performance

NYSE CNA traded down $0.40 on Wednesday, reaching $52.56. The stock had a trading volume of 44,992 shares, compared to its average volume of 491,192. The stock has a market cap of $14.22 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 7.33 and a beta of 0.28. CNA Financial has a 12-month low of $41.53 and a 12-month high of $55.71. The business’s 50-day moving average price is $48.49 and its 200 day moving average price is $47.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.27.

CNA Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.92 annualized dividend and a yield of 3.7%. CNA Financial’s payout ratio is 42.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research raised CNA Financial from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 16th. Weiss Ratings upgraded shares of CNA Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, CNA Financial currently has a consensus rating of “Moderate Buy”.

Insider Activity at CNA Financial

In related news, CAO Daniel Paul Franzetti sold 22,656 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total value of $1,202,807.04. Following the completion of the sale, the chief accounting officer owned 68,032 shares in the company, valued at $3,611,818.88. This represents a 24.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On CNA Financial

Several institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new position in CNA Financial in the 2nd quarter valued at $53,000. Quantbot Technologies LP acquired a new stake in shares of CNA Financial in the 2nd quarter valued at approximately $55,000. CIBC Private Wealth Group LLC boosted its position in shares of CNA Financial by 142.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,223 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 719 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of CNA Financial by 28.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider’s stock valued at $67,000 after acquiring an additional 318 shares during the period. Finally, Federation des caisses Desjardins du Quebec raised its position in CNA Financial by 33.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,952 shares of the insurance provider’s stock worth $93,000 after acquiring an additional 488 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

About CNA Financial

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.