21,500 Shares in CNA Financial Corporation $CNA Purchased by Board of the Pension Protection Fund

Key Points

• The Pension Protection Fund's board purchased 21,500 shares of CNA Financial Corporation for around $1,000,000, indicating increased institutional interest in the company.
• Insider trading activity is noteworthy, with Chairman Dino Robusto and CFO Scott R. Lindquist selling shares, while insiders overall own only 0.30% of stock.
• CNA Financial reported strong earnings with $1.23 per share, surpassing estimates, and declared a quarterly dividend of $0.46 per share, reflecting a 4.0% yield.

Board of the Pension Protection Fund purchased a new position in CNA Financial Corporation (NYSE:CNA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,500 shares of the insurance provider's stock, valued at approximately $1,000,000.

Several other institutional investors have also recently made changes to their positions in CNA. GAMMA Investing LLC raised its position in shares of CNA Financial by 10.3% in the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider's stock worth $115,000 after acquiring an additional 211 shares in the last quarter. SG Americas Securities LLC bought a new position in CNA Financial in the first quarter worth $470,000. Wealth Enhancement Advisory Services LLC raised its holdings in CNA Financial by 37.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,934 shares of the insurance provider's stock worth $1,419,000 after purchasing an additional 7,665 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in CNA Financial by 10.2% in the first quarter. Cyndeo Wealth Partners LLC now owns 145,700 shares of the insurance provider's stock worth $7,400,000 after purchasing an additional 13,441 shares in the last quarter. Finally, Longboard Asset Management LP bought a new position in CNA Financial in the first quarter worth $207,000. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of CNA Financial in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.00.

Insider Activity at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $46.25, for a total transaction of $289,062.50. Following the completion of the sale, the chairman owned 680,588 shares of the company's stock, valued at $31,477,195. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott R. Lindquist sold 8,380 shares of CNA Financial stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $48.98, for a total value of $410,452.40. Following the completion of the sale, the chief financial officer directly owned 81,487 shares of the company's stock, valued at approximately $3,991,233.26. The trade was a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,880 shares of company stock valued at $1,493,865 in the last three months. 0.30% of the stock is owned by insiders.

CNA Financial Price Performance

Shares of NYSE:CNA opened at $46.55 on Friday. CNA Financial Corporation has a 1-year low of $43.29 and a 1-year high of $51.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. The business has a fifty day moving average price of $47.37 and a 200-day moving average price of $46.96. The company has a market capitalization of $12.60 billion, a PE ratio of 14.50, a PEG ratio of 4.16 and a beta of 0.50.

CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.29. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned $1.19 earnings per share. As a group, equities analysts expect that CNA Financial Corporation will post 4.64 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, August 18th. CNA Financial's dividend payout ratio (DPR) is currently 57.32%.

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.

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