Bank of New York Mellon Corp Makes New $1.77 Million Investment in CNA Financial Corporation $CNA

Key Points

• Bank of New York Mellon acquired 36,446 CNA Financial shares worth approximately $1.77 million during the second quarter. Institutional investors now own 98.45% of the insurer’s stock.
• CNA reported quarterly earnings of $1.19 per share, exceeding the $1.08 consensus estimate, while revenue reached $3.83 billion. Analysts expect full-year earnings of about $4.19 per share.
• The company maintains a quarterly dividend of $0.48 per share, equivalent to a 4.0% annual yield. However, two executives recently sold shares, and CNA stock was trading down 1.3% at $47.83.

Bank of New York Mellon Corp purchased a new position in shares of CNA Financial Corporation (NYSE:CNA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,446 shares of the insurance provider's stock, valued at approximately $1,772,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNA. Daiwa Securities Group Inc. increased its position in CNA Financial by 5.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,972 shares of the insurance provider's stock valued at $190,000 after purchasing an additional 211 shares during the period. Lazard Asset Management LLC lifted its position in shares of CNA Financial by 6.8% in the 2nd quarter. Lazard Asset Management LLC now owns 3,957 shares of the insurance provider's stock worth $184,000 after purchasing an additional 253 shares during the period. Focus Partners Wealth boosted its stake in shares of CNA Financial by 2.9% during the third quarter. Focus Partners Wealth now owns 9,305 shares of the insurance provider's stock valued at $432,000 after purchasing an additional 258 shares in the last quarter. Whittier Trust Co. increased its holdings in CNA Financial by 13.8% during the first quarter. Whittier Trust Co. now owns 2,275 shares of the insurance provider's stock valued at $105,000 after buying an additional 275 shares during the period. Finally, Hudson Portfolio Management LLC increased its holdings in CNA Financial by 0.8% during the fourth quarter. Hudson Portfolio Management LLC now owns 39,980 shares of the insurance provider's stock valued at $1,909,000 after buying an additional 300 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Daniel Franzetti sold 22,656 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total value of $1,202,807.04. Following the completion of the transaction, the chief accounting officer directly owned 68,032 shares of the company's stock, valued at $3,611,818.88. This trade represents a 24.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark James sold 8,273 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $53.15, for a total transaction of $439,709.95. Following the sale, the executive vice president directly owned 26,446 shares in the company, valued at approximately $1,405,604.90. This represents a 23.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company's stock.

CNA Financial Trading Down 1.3%

NYSE:CNA opened at $47.83 on Wednesday. The firm has a 50 day moving average of $51.05 and a 200 day moving average of $47.77. 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. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 6.47 and a beta of 0.27.

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

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, August 17th. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. CNA Financial's dividend payout ratio is 42.20%.

Wall Street Analysts Forecast Growth

CNA has been the subject of a number of analyst reports. Zacks Research upgraded CNA Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Weiss Ratings upgraded CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, CNA Financial presently has an average 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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