Hsbc Holdings PLC Invests $7.62 Million in CNA Financial Corporation $CNA

Hsbc Holdings PLC purchased a new stake in shares of CNA Financial Corporation (NYSE:CNA) during the second quarter, Holdings Channel.com reports. The firm purchased 155,228 shares of the insurance provider’s stock, valued at approximately $7,622,000.

Several other hedge funds have also made changes to their positions in CNA. BlackRock Inc. purchased a new position in CNA Financial during the 2nd quarter worth approximately $80,193,000. CORDA Investment Management LLC. purchased a new stake in shares of CNA Financial in the second quarter valued at $36,638,000. First Trust Advisors LP lifted its holdings in shares of CNA Financial by 34.6% in 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 purchasing an additional 540,448 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of CNA Financial by 409.1% in the third quarter. Millennium Management LLC now owns 604,963 shares of the insurance provider’s stock valued at $28,107,000 after purchasing an additional 486,127 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of CNA Financial by 1,509,521.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 483,079 shares of the insurance provider’s stock worth $23,062,000 after buying an additional 483,047 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, EVP Mark Steven James sold 8,273 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $53.15, for a total transaction of $439,709.95. Following the completion of the sale, the executive vice president owned 26,446 shares in the company, valued at approximately $1,405,604.90. This represents a 23.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Paul Franzetti sold 22,656 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $53.09, for a total value of $1,202,807.04. Following the sale, the chief accounting officer owned 68,032 shares of the company’s stock, valued at approximately $3,611,818.88. This trade represents a 24.98% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is owned by company insiders.

CNA Financial Stock Performance

CNA stock opened at $49.27 on Friday. The firm has a 50 day moving average of $50.91 and a two-hundred day moving average of $47.80. CNA Financial Corporation has a 12 month low of $41.53 and a 12 month high of $55.71. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 6.53 and a beta of 0.28. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27.

CNA Financial (NYSE:CNA) last released its quarterly earnings results on Monday, August 3rd. The insurance provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.11. CNA Financial had a net margin of 8.16% and a return on equity of 11.34%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm earned $1.23 EPS. As a group, equities analysts anticipate that CNA Financial Corporation will post 4.19 EPS for the current fiscal year.

CNA Financial Announces Dividend

The firm also recently announced 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. This represents a $1.92 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 17th. CNA Financial’s dividend payout ratio is presently 42.20%.

Wall Street Analyst Weigh In

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

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.