CNA Financial Co. (NYSE:CNA) Sees Significant Increase in Short Interest

CNA Financial Co. (NYSE:CNA - Get Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 1,490,000 shares, an increase of 18.3% from the April 30th total of 1,260,000 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 385,900 shares, the short-interest ratio is currently 3.9 days.

CNA Financial Stock Down 1.9%

NYSE:CNA traded down $0.93 during trading hours on Wednesday, hitting $47.09. The company's stock had a trading volume of 215,881 shares, compared to its average volume of 321,399. The stock has a fifty day moving average of $48.01 and a 200-day moving average of $48.54. The stock has a market capitalization of $12.74 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 9.23 and a beta of 0.53. CNA Financial has a 52-week low of $42.85 and a 52-week high of $52.36. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.13). The firm had revenue of $3.63 billion for the quarter, compared to analysts' expectations of $3.68 billion. CNA Financial had a return on equity of 12.90% and a net margin of 6.72%. During the same period in the previous year, the business posted $1.30 EPS. On average, equities analysts forecast that CNA Financial will post 4.64 earnings per share for the current year.

CNA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Monday, May 19th. CNA Financial's payout ratio is 56.10%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen cut CNA Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Keefe, Bruyette & Woods dropped their target price on CNA Financial from $54.00 to $53.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th.

Insiders Place Their Bets

In related news, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $47.61, for a total value of $297,562.50. Following the completion of the transaction, the chairman now directly owns 711,838 shares in the company, valued at approximately $33,890,607.18. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Daniel Paul Franzetti sold 12,991 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $49.06, for a total value of $637,338.46. Following the transaction, the chief accounting officer now owns 75,612 shares in the company, valued at $3,709,524.72. This trade represents a 14.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,006 shares of company stock worth $2,099,564. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On CNA Financial

Hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its holdings in shares of CNA Financial by 56.4% during the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock worth $32,000 after purchasing an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CNA Financial by 663.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 771 shares of the insurance provider's stock worth $37,000 after buying an additional 670 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of CNA Financial by 60.4% during the fourth quarter. True Wealth Design LLC now owns 1,166 shares of the insurance provider's stock worth $56,000 after buying an additional 439 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of CNA Financial by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the insurance provider's stock worth $61,000 after buying an additional 286 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of CNA Financial by 28.3% during the fourth quarter. Quent Capital LLC now owns 1,475 shares of the insurance provider's stock worth $71,000 after buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

CNA Financial Company Profile

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.

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