Hsbc Holdings PLC Boosts Position in CNA Financial Corporation $CNA

Hsbc Holdings PLC lifted its holdings in shares of CNA Financial Corporation (NYSE:CNA) by 1,190.4% in the second quarter, Holdings Channel.com reports. The fund owned 155,228 shares of the insurance provider’s stock after purchasing an additional 143,199 shares during the period. Hsbc Holdings PLC’s holdings in CNA Financial were worth $7,622,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lloyd Advisory Services LLC. bought a new stake in CNA Financial in the fourth quarter valued at $25,000. Compass Financial Management LLC bought a new position in CNA Financial in the 2nd quarter worth $36,000. State of Wyoming bought a new position in CNA Financial in the 2nd quarter worth $53,000. Quantbot Technologies LP purchased a new stake in shares of CNA Financial in the 2nd quarter worth about $55,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of 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 worth $57,000 after purchasing an additional 719 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Price Performance

CNA stock opened at $47.30 on Thursday. The firm has a 50 day moving average price of $51.00 and a 200-day moving average price of $47.75. CNA Financial Corporation has a 52-week low of $41.53 and a 52-week high of $55.71. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 6.37 and a beta of 0.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.

CNA Financial (NYSE:CNA) last issued its quarterly earnings results on Monday, August 3rd. The insurance provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.11. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $2.97 billion. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.During the same period in the previous year, the firm posted $1.23 EPS. Equities research analysts forecast that CNA Financial Corporation will post 4.19 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. CNA Financial’s dividend payout ratio is currently 42.20%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CAO Daniel Franzetti sold 22,656 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer owned 68,032 shares in the company, valued at $3,611,818.88. The trade was a 24.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark 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 transaction, the executive vice president owned 26,446 shares in the company, valued at approximately $1,405,604.90. The trade was a 23.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.29% of the company’s stock.

CNA Financial 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.