CNA Financial (NYSE:CNA) Posts Earnings Results, Beats Estimates By $0.29 EPS

Key Points

• CNA Financial reported an earnings per share (EPS) of $1.23 for the quarter, significantly exceeding the consensus estimate of $0.95.
• The company declared a quarterly dividend of $0.46, resulting in a 4.2% yield and a payout ratio of 56.10%.
• Insider selling activity included the Chairman and an Executive Vice President, with the Chairman selling 6,250 shares valued at $297,687.50.

CNA Financial (NYSE:CNA - Get Free Report) issued its quarterly earnings data on Monday. The insurance provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.29, Zacks reports. CNA Financial had a net margin of 6.19% and a return on equity of 11.99%. During the same period in the previous year, the business posted $1.19 EPS.

CNA Financial Trading Up 3.8%

Shares of NYSE CNA traded up $1.69 during midday trading on Monday, hitting $45.58. The stock had a trading volume of 145,664 shares, compared to its average volume of 415,437. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 5.73 and a beta of 0.51. CNA Financial has a 1-year low of $43.29 and a 1-year high of $52.36. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average price of $45.46 and a 200 day moving average price of $47.50.

CNA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 4.0%. CNA Financial's dividend payout ratio (DPR) is 56.10%.

Insider Activity

In other news, EVP Mark Steven James sold 5,015 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total transaction of $242,475.25. Following the completion of the sale, the executive vice president owned 27,059 shares of the company's stock, valued at approximately $1,308,302.65. This trade represents a 15.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $47.63, for a total value of $297,687.50. Following the transaction, the chairman directly owned 705,588 shares in the company, valued at approximately $33,607,156.44. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.36% of the company's stock.

Institutional Trading of CNA Financial

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in CNA Financial by 0.7% in the first quarter. Goldman Sachs Group Inc. now owns 351,997 shares of the insurance provider's stock worth $17,878,000 after purchasing an additional 2,466 shares during the period. Amundi increased its holdings in shares of CNA Financial by 5.3% in the first quarter. Amundi now owns 7,787 shares of the insurance provider's stock valued at $395,000 after buying an additional 389 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of CNA Financial by 12.9% in the first quarter. Empowered Funds LLC now owns 5,966 shares of the insurance provider's stock valued at $303,000 after buying an additional 684 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of CNA Financial in the first quarter valued at $281,000. 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.