Bank of America Corp DE Grows Position in CNA Financial Corporation $CNA

Key Points

• Bank of America increased its CNA Financial stake by 41.9% in the first quarter, bringing its holdings to 135,873 shares valued at approximately $6.24 million. Institutional investors and hedge funds collectively own 98.45% of CNA’s stock.
• CNA Financial reported quarterly earnings of $1.19 per share, exceeding the $1.08 consensus estimate, while revenue reached $3.83 billion. Analysts project full-year EPS of $4.19.
• The company declared a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 payout and a 3.9% yield. Meanwhile, two executives sold shares, and analysts maintain a “Moderate Buy” consensus rating.

Bank of America Corp DE increased its stake in CNA Financial Corporation (NYSE:CNA - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,873 shares of the insurance provider's stock after acquiring an additional 40,130 shares during the quarter. Bank of America Corp DE owned approximately 0.05% of CNA Financial worth $6,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lloyd Advisory Services LLC. acquired a new stake in CNA Financial during the fourth quarter worth $25,000. State of Wyoming acquired a new stake in shares of CNA Financial in the second quarter valued at $53,000. Quantbot Technologies LP purchased a new position in shares of CNA Financial in the 2nd quarter valued at about $55,000. CIBC Private Wealth Group LLC lifted its stake in CNA Financial by 142.7% in the third quarter. CIBC Private Wealth Group LLC now owns 1,223 shares of the insurance provider's stock worth $57,000 after acquiring an additional 719 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of CNA Financial by 28.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider's stock worth $67,000 after purchasing an additional 318 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CNA Financial

In other CNA Financial news, CAO Daniel Paul Franzetti sold 22,656 shares of CNA Financial stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total transaction of $1,202,807.04. Following the completion of the transaction, the chief accounting officer owned 68,032 shares in the company, valued at approximately $3,611,818.88. The trade was a 24.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark Steven James sold 8,273 shares of the company's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $53.15, for a total transaction of $439,709.95. Following the completion of the sale, the executive vice president directly owned 26,446 shares in the company, valued at $1,405,604.90. This trade represents a 23.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company's stock.

CNA Financial Stock Performance

Shares of CNA opened at $49.42 on Thursday. The company has a 50-day simple moving average of $50.73 and a 200-day simple moving average of $47.79. The company has a market capitalization of $13.37 billion, a PE ratio of 10.86, a P/E/G ratio of 6.56 and a beta of 0.28. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. CNA Financial Corporation has a 52-week low of $41.53 and a 52-week high of $55.71.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.11. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $2.97 billion. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.During the same period last year, the business posted $1.23 EPS. Equities research analysts predict that CNA Financial Corporation will post 4.19 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 17th. CNA Financial's payout ratio is 42.20%.

Analysts Set New Price Targets

CNA has been the subject of a number of research analyst reports. Weiss Ratings raised CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. Zacks Research raised shares of CNA Financial from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CNA Financial presently has a consensus rating of "Moderate Buy".

CNA Financial Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.

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