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 bought a new position in CNA Financial Corporation (NYSE:CNA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,156 shares of the insurance provider's stock, valued at approximately $313,000.

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

CNA Financial Stock Up 0.1%

NYSE CNA traded up $0.04 during trading on Friday, reaching $47.05. The company's stock had a trading volume of 381,032 shares, compared to its average volume of 592,836. 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 stock has a market capitalization of $12.74 billion, a PE ratio of 14.66, a PEG ratio of 5.86 and a beta of 0.51. The business has a 50-day moving average price of $45.40 and a 200-day moving average price of $47.44. CNA Financial Corporation has a 1-year low of $43.29 and a 1-year high of $52.36.

CNA Financial (NYSE:CNA - Get Free Report) last posted its earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.29. 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 during the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the company earned $1.19 earnings per share. On average, research analysts forecast that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Mark Steven James sold 5,015 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total value of $242,475.25. Following the completion of the sale, the executive vice president directly owned 27,059 shares in the company, valued at approximately $1,308,302.65. The trade was a 15.64% decrease in their ownership of the stock. The sale 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 business's 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 completion of the sale, the chairman owned 705,588 shares of the company's stock, valued at $33,607,156.44. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

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.