D Craig Mense Sells 23,450 Shares of CNA Financial Corporation (CNA) Stock
CNA Financial Corporation (NYSE:CNA) CFO D Craig Mense sold 23,450 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $52.66, for a total value of $1,234,877.00. Following the transaction, the chief financial officer now owns 130,548 shares of the company’s stock, valued at $6,874,657.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
CNA Financial Corporation (NYSE CNA) traded down 0.51% during trading on Tuesday, hitting $52.45. The stock had a trading volume of 138,069 shares. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 12.76 and a beta of 1.23. CNA Financial Corporation has a one year low of $32.03 and a one year high of $53.67. The stock’s 50-day moving average is $50.22 and its 200 day moving average is $45.92.
CNA Financial Corporation (NYSE:CNA) last released its earnings results on Monday, July 31st. The insurance provider reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.35 billion. CNA Financial Corporation had a return on equity of 8.40% and a net margin of 11.72%. During the same period in the prior year, the firm posted $0.77 earnings per share. Equities analysts anticipate that CNA Financial Corporation will post $3.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Monday, August 14th will be paid a $0.30 dividend. This is a positive change from CNA Financial Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, August 10th. CNA Financial Corporation’s dividend payout ratio is presently 29.20%.
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CNA has been the subject of a number of research analyst reports. Zacks Investment Research upgraded CNA Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, April 18th. Deutsche Bank AG cut CNA Financial Corporation from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $46.00 in a report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.00.
A number of institutional investors have recently added to or reduced their stakes in CNA. Bank of Montreal Can raised its position in CNA Financial Corporation by 144.6% in the first quarter. Bank of Montreal Can now owns 38,989 shares of the insurance provider’s stock valued at $1,722,000 after buying an additional 23,046 shares during the last quarter. Nisa Investment Advisors LLC raised its position in CNA Financial Corporation by 51.7% in the first quarter. Nisa Investment Advisors LLC now owns 58,800 shares of the insurance provider’s stock valued at $2,597,000 after buying an additional 20,050 shares during the last quarter. Sanders Morris Harris Inc. acquired a new position in CNA Financial Corporation during the first quarter valued at approximately $1,436,000. Acadian Asset Management LLC raised its position in CNA Financial Corporation by 603.5% in the first quarter. Acadian Asset Management LLC now owns 245,583 shares of the insurance provider’s stock valued at $10,848,000 after buying an additional 210,674 shares during the last quarter. Finally, Glen Harbor Capital Management LLC acquired a new position in CNA Financial Corporation during the first quarter valued at approximately $197,000. Hedge funds and other institutional investors own 99.78% of the company’s stock.
About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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