CNA Financial (NYSE:CNA) Releases Earnings Results, Beats Expectations 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) announced its quarterly earnings data on Monday. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $0.94 by $0.29, Zacks reports. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the firm earned $1.19 EPS.

CNA Financial Trading Up 0.1%

CNA stock traded up $0.04 during trading on Friday, reaching $47.05. 381,032 shares of the stock were exchanged, compared to its average volume of 422,822. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 5.93 and a beta of 0.51. The business has a 50 day moving average price of $45.42 and a 200-day moving average price of $47.46. CNA Financial has a 1 year low of $43.29 and a 1 year high of $52.36.

CNA Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a $0.46 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. CNA Financial's dividend payout ratio (DPR) is 57.32%.

Insider Buying and Selling

In other news, Chairman Dino Robusto sold 6,250 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $47.63, for a total transaction of $297,687.50. Following the transaction, the chairman directly owned 705,588 shares of the company's stock, valued at $33,607,156.44. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the executive vice president owned 27,059 shares in the company, valued at $1,308,302.65. The trade was a 15.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of CNA Financial

Several large investors have recently made changes to their positions in CNA. Focus Partners Wealth bought a new stake in shares of CNA Financial in the 1st quarter valued at about $281,000. Empowered Funds LLC boosted its position in CNA Financial by 12.9% during the 1st quarter. Empowered Funds LLC now owns 5,966 shares of the insurance provider's stock valued at $303,000 after acquiring an additional 684 shares in the last quarter. Amundi boosted its position in shares of CNA Financial by 5.3% in the 1st quarter. Amundi now owns 7,787 shares of the insurance provider's stock worth $395,000 after purchasing an additional 389 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in CNA Financial by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 351,997 shares of the insurance provider's stock valued at $17,878,000 after buying an additional 2,466 shares during the last quarter. 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.