ABC Arbitrage SA Makes New $313,000 Investment in CNA Financial Corporation (NYSE:CNA)

Key Points

• ABC Arbitrage SA has acquired a new position in CNA Financial Corporation, purchasing 6,156 shares valued at approximately $313,000.
• CNA Financial reported impressive quarterly earnings, with an EPS of $1.23, exceeding analysts' estimates of $0.94, and achieved a net margin of 5.99%.
• The firm declared a quarterly dividend of $0.46, reflecting an annualized yield of 3.9%, with the dividend payout ratio currently at 56.10%.

ABC Arbitrage SA purchased a new stake in CNA Financial Corporation (NYSE:CNA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,156 shares of the insurance provider's stock, valued at approximately $313,000.

Other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC boosted its position in CNA Financial by 56.4% during the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 225 shares during the last quarter. True Wealth Design LLC lifted its position in shares of CNA Financial by 60.4% during the 4th quarter. True Wealth Design LLC now owns 1,166 shares of the insurance provider's stock worth $56,000 after purchasing an additional 439 shares during the last quarter. Covestor Ltd boosted its position in shares of CNA Financial by 33.4% in the fourth quarter. Covestor Ltd now owns 2,079 shares of the insurance provider's stock valued at $100,000 after acquiring an additional 521 shares during the period. GAMMA Investing LLC increased its holdings in shares of CNA Financial by 10.3% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider's stock worth $115,000 after purchasing an additional 211 shares during the period. Finally, Federated Hermes Inc. acquired a new position in CNA Financial in the 4th quarter valued at approximately $167,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

CNA Financial Stock Performance

CNA stock traded down $0.64 during midday trading on Thursday, hitting $46.96. The stock had a trading volume of 519,545 shares, compared to its average volume of 595,044. The stock has a 50-day simple moving average of $45.42 and a 200 day simple moving average of $47.46. The firm has a market capitalization of $12.71 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 5.93 and a beta of 0.51. CNA Financial Corporation has a 52 week low of $43.29 and a 52 week high of $52.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23.

CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the prior year, the business posted $1.19 earnings per share. As a group, equities research analysts anticipate that CNA Financial Corporation will post 4.64 earnings per share for the current year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.84 dividend on an annualized basis and a yield of 3.9%. CNA Financial's dividend payout ratio is currently 57.32%.

Insider Transactions at CNA Financial

In other news, EVP Mark Steven James sold 5,015 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total value of $242,475.25. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dino Robusto sold 6,250 shares of CNA Financial stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $47.63, for a total transaction of $297,687.50. Following the sale, 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 disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

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.