AlphaQuest LLC Boosts Stock Position in CNA Financial Corporation $CNA

Key Points

• AlphaQuest LLC significantly increased its stake in CNA Financial Corporation by 56,264.8% during Q1, acquiring a total of 59,183 shares now valued at approximately $3 million.
• Several other institutional investors substantially raised their holdings in CNA Financial, with Charles Schwab Investment Management increasing theirs by 210.8% during the same period.
• CNA Financial reported strong quarterly earnings of $1.23 per share, surpassing analyst estimates and achieving a revenue of $3.37 billion, well above the projected $2.76 billion.

AlphaQuest LLC grew its stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 56,264.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,183 shares of the insurance provider's stock after acquiring an additional 59,078 shares during the quarter. CNA Financial comprises approximately 0.3% of AlphaQuest LLC's portfolio, making the stock its 21st biggest position. AlphaQuest LLC's holdings in CNA Financial were worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CNA Financial during the first quarter valued at $887,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of CNA Financial by 37.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,934 shares of the insurance provider's stock valued at $1,419,000 after buying an additional 7,665 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of CNA Financial during the first quarter valued at $470,000. Nisa Investment Advisors LLC boosted its position in shares of CNA Financial by 57.4% during the first quarter. Nisa Investment Advisors LLC now owns 38,120 shares of the insurance provider's stock valued at $1,936,000 after buying an additional 13,900 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CNA Financial by 5,501.5% during the first quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock valued at $5,835,000 after buying an additional 112,836 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

CNA Financial Stock Performance

Shares of CNA Financial stock traded down $0.04 during trading on Tuesday, hitting $48.89. 319,074 shares of the company's stock traded hands, compared to its average volume of 424,617. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Corporation has a 1 year low of $43.29 and a 1 year high of $52.36. The stock has a market capitalization of $13.23 billion, a P/E ratio of 15.23, a PEG ratio of 4.41 and a beta of 0.51. The business has a 50-day simple moving average of $45.76 and a 200-day simple moving average of $47.35.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.23 EPS 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 company had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period last year, the firm posted $1.19 earnings per share. As a group, analysts forecast that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 18th. CNA Financial's dividend payout ratio (DPR) is presently 57.32%.

Insider Transactions at CNA Financial

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $33,607,156.44. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.36% of the company's stock.

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.