CNA Financial Corporation $CNA Position Reduced by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its CNA Financial position by 41% in the second quarter, while other institutional investors—including First Trust Advisors, BlackRock and Quantinno Capital—added shares. Institutions collectively own 98.45% of the company.
• CNA Financial reported quarterly earnings of $1.19 per share, beating the $1.08 analyst consensus, with revenue of $3.83 billion versus estimates of $2.97 billion. Analysts expect $4.19 in full-year EPS, and the stock carries a “Moderate Buy” consensus rating.
• The company maintains a quarterly dividend of $0.48, or $1.92 annually, representing an approximately 4.0% yield. Two executives recently sold shares, while insider ownership stands at just 0.29%.

Corient Private Wealth LP trimmed its position in CNA Financial Corporation (NYSE:CNA - Free Report) by 41.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,203 shares of the insurance provider's stock after selling 37,699 shares during the period. Corient Private Wealth LP's holdings in CNA Financial were worth $2,635,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of CNA Financial by 34.6% in the first quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider's stock valued at $96,482,000 after buying an additional 540,448 shares during the period. BlackRock Inc. acquired a new position in CNA Financial during the second quarter worth about $80,193,000. CORDA Investment Management LLC. grew its holdings in CNA Financial by 3.2% during the second quarter. CORDA Investment Management LLC. now owns 753,707 shares of the insurance provider's stock worth $36,638,000 after acquiring an additional 23,488 shares during the period. Quantinno Capital Management LP raised its position in CNA Financial by 48.9% in the first quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider's stock worth $31,467,000 after acquiring an additional 225,030 shares in the last quarter. Finally, Norges Bank bought a new stake in CNA Financial in the fourth quarter worth about $16,677,000. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Daniel Franzetti sold 22,656 shares of the firm's 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 owned 68,032 shares of the company's stock, valued at approximately $3,611,818.88. This trade represents a 24.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark James sold 8,273 shares of CNA Financial 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 transaction, the executive vice president owned 26,446 shares in the company, valued at approximately $1,405,604.90. The trade was a 23.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is owned by insiders.

CNA Financial Stock Performance

Shares of NYSE CNA opened at $47.83 on Tuesday. The stock's fifty day simple moving average is $50.45 and its 200 day simple moving average is $47.73. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 6.41 and a beta of 0.27. 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 results on Monday, August 3rd. The insurance provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.11. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $2.97 billion. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.During the same quarter last year, the company posted $1.23 EPS. As a group, sell-side analysts forecast that CNA Financial Corporation will post 4.19 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. CNA Financial's dividend payout ratio (DPR) is 42.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CNA. Zacks Research upgraded shares of CNA Financial from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, CNA Financial has a consensus rating of "Moderate Buy".

CNA Financial Profile

CNA Financial Corporation NYSE: CNA is a commercial property and casualty insurance company serving businesses, organizations and professionals. Its insurance offerings include commercial property, casualty, workers' compensation, professional liability, management liability, marine, surety and specialty coverage.

The company serves a broad range of industries, including construction, manufacturing, healthcare, financial services, technology, professional services and nonprofit organizations.

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