AlphaQuest LLC Increases Stake 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 boosted its stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 56,264.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,183 shares of the insurance provider's stock after buying an additional 59,078 shares during the quarter. CNA Financial makes up 0.3% of AlphaQuest LLC's portfolio, making the stock its 21st largest 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).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in CNA Financial by 10.3% during the 1st 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 period. Hexagon Capital Partners LLC lifted its stake in CNA Financial by 56.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 225 shares during the period. Applied Finance Capital Management LLC boosted its stake in shares of CNA Financial by 3.4% in the first quarter. Applied Finance Capital Management LLC now owns 6,829 shares of the insurance provider's stock worth $347,000 after buying an additional 227 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of CNA Financial by 2.1% in the fourth quarter. Tidal Investments LLC now owns 15,289 shares of the insurance provider's stock worth $740,000 after buying an additional 315 shares during the last quarter. Finally, Commerce Bank grew its position in CNA Financial by 2.6% during the fourth quarter. Commerce Bank now owns 12,856 shares of the insurance provider's stock valued at $622,000 after buying an additional 320 shares during the period. Institutional investors own 98.45% of the company's stock.

Insider Activity at CNA Financial

In other news, Chairman Dino Robusto sold 6,250 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $47.63, for a total value of $297,687.50. Following the completion of the sale, the chairman directly owned 705,588 shares in the company, valued at $33,607,156.44. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.36% of the stock is owned by company insiders.

CNA Financial Stock Performance

CNA stock traded up $0.51 during midday trading on Wednesday, hitting $49.38. 96,894 shares of the stock traded hands, compared to its average volume of 422,716. The firm has a market cap of $13.37 billion, a P/E ratio of 15.38, a PEG ratio of 4.38 and a beta of 0.51. 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 stock's fifty day simple moving average is $45.83 and its 200-day simple moving average is $47.36. 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 released its quarterly earnings results on Monday, August 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $0.94 by $0.29. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.76 billion. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. During the same quarter last year, the business earned $1.19 earnings per share. On average, analysts expect that CNA Financial Corporation will post 4.64 earnings per share for the current year.

CNA Financial Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.7%. CNA Financial's payout ratio is 57.32%.

CNA Financial 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.