CNA Financial (NYSE:CNA) Posts Earnings Results, Beats Estimates By $0.25 EPS

CNA Financial (NYSE:CNA) issued its quarterly earnings data on Monday. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.25, Zacks reports. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $2.84 billion. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. During the same period last year, the company earned $1.08 earnings per share.

CNA Financial Stock Down 1.1%

CNA opened at $44.07 on Tuesday. The company has a fifty day moving average price of $46.58 and a 200-day moving average price of $46.59. The firm has a market capitalization of $11.93 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 3.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial has a one year low of $43.29 and a one year high of $51.42.

CNA Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.84 dividend on an annualized basis and a yield of 4.2%. CNA Financial’s payout ratio is presently 57.32%.

Insiders Place Their Bets

In other news, Chairman Dino Robusto sold 6,250 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $45.28, for a total transaction of $283,000.00. Following the completion of the transaction, the chairman directly owned 674,338 shares in the company, valued at $30,534,024.64. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott R. Lindquist sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $48.81, for a total transaction of $488,100.00. Following the transaction, the chief financial officer owned 89,867 shares of the company’s stock, valued at $4,386,408.27. This trade represents a 10.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,130 shares of company stock valued at $1,776,865 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNA. State of Wyoming purchased a new position in CNA Financial in the second quarter worth $53,000. Quantbot Technologies LP purchased a new stake in CNA Financial during the second quarter valued at about $55,000. EverSource Wealth Advisors LLC boosted its position in CNA Financial by 28.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider’s stock valued at $67,000 after buying an additional 318 shares during the period. Lazard Asset Management LLC boosted its position in CNA Financial by 6.8% during the second quarter. Lazard Asset Management LLC now owns 3,957 shares of the insurance provider’s stock valued at $184,000 after buying an additional 253 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in CNA Financial during the second quarter valued at about $213,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNA has been the subject of a number of analyst reports. Zacks Research upgraded shares of CNA Financial from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings raised shares of CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $53.00.

About CNA Financial

CNA Financial Corporation provides commercial property and casualty insurance products in the United States and internationally. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity and cyber coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.