Burney Co. Has $1.09 Million Stake in CNA Financial Corporation (NYSE:CNA)

Key Points

• Burney Co. increased its stake in CNA Financial Corporation by 60.4% during the first quarter, raising its total holdings to 21,512 shares valued at approximately $1.09 million.
• CNA Financial reported a quarterly earnings miss with earnings per share of $1.03, falling short of the consensus estimate of $1.16, and a revenue of $3.63 billion compared to the expected $3.68 billion.
• The company declared a quarterly dividend of $0.46, yielding 4.14%, with an annualized payout of $1.84 and a payout ratio of 56.10%.

Burney Co. increased its stake in CNA Financial Corporation (NYSE:CNA - Free Report) by 60.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,512 shares of the insurance provider's stock after buying an additional 8,103 shares during the period. Burney Co.'s holdings in CNA Financial were worth $1,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its stake in CNA Financial by 56.4% during the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 225 shares during the last quarter. True Wealth Design LLC lifted its holdings 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 worth $56,000 after purchasing an additional 439 shares during the period. Quantbot Technologies LP acquired a new stake in CNA Financial in the fourth quarter worth about $74,000. Covestor Ltd lifted its holdings in CNA Financial by 33.4% in the fourth quarter. Covestor Ltd now owns 2,079 shares of the insurance provider's stock worth $100,000 after purchasing an additional 521 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in CNA Financial by 10.3% in the first quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider's stock worth $115,000 after purchasing an additional 211 shares during the period. Institutional investors own 98.45% of the company's stock.

CNA Financial Price Performance

CNA stock traded up $0.44 during trading on Friday, hitting $44.40. The company had a trading volume of 530,845 shares, compared to its average volume of 686,551. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 5.74 and a beta of 0.51. The business has a 50 day moving average of $45.82 and a 200 day moving average of $47.60. CNA Financial Corporation has a fifty-two week low of $43.29 and a fifty-two week high of $52.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24.

CNA Financial (NYSE:CNA - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The insurance provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.13). CNA Financial had a return on equity of 11.99% and a net margin of 6.19%. The company had revenue of $3.63 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the company earned $1.30 EPS. As a group, research analysts predict that CNA Financial Corporation will post 4.64 earnings per share for the current year.

CNA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, May 19th. CNA Financial's payout ratio is 56.10%.

Insider Transactions at CNA Financial

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were 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 of the company's stock, valued at approximately $33,607,156.44. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Steven James sold 5,015 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total transaction of $242,475.25. Following the completion of the sale, the executive vice president directly owned 27,059 shares of the company's stock, valued at $1,308,302.65. The trade was a 15.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,515 shares of company stock valued at $837,725 over the last three months. 0.30% of the stock is owned by corporate 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.