Comerica Bank Boosts Position in CNA Financial Corporation $CNA

Key Points

• Comerica Bank increased its stake in CNA Financial Corporation by 168.3% during the first quarter, acquiring an additional 9,214 shares, bringing their total to 14,690 shares valued at approximately $746,000.
• CNA Financial's CFO Scott R. Lindquist sold 10,000 shares at an average price of $48.81, resulting in a 10.01% decrease in his position, while the Chairman sold 6,250 shares, reducing his holdings by 0.90%.
• In the latest quarter, CNA Financial reported earnings of $1.23 per share, exceeding estimates, with a revenue of $3.37 billion, significantly above the consensus estimate.

Comerica Bank increased its holdings in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 168.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,690 shares of the insurance provider's stock after buying an additional 9,214 shares during the period. Comerica Bank's holdings in CNA Financial were worth $746,000 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 recently made changes to their positions in CNA. Charles Schwab Investment Management Inc. lifted its position in shares of CNA Financial by 210.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider's stock valued at $43,816,000 after buying an additional 585,076 shares in the last quarter. Millennium Management LLC lifted its holdings in CNA Financial by 229.1% in the 4th quarter. Millennium Management LLC now owns 268,139 shares of the insurance provider's stock valued at $12,970,000 after purchasing an additional 186,653 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in CNA Financial by 501.6% in the 4th quarter. Two Sigma Advisers LP now owns 154,000 shares of the insurance provider's stock valued at $7,449,000 after purchasing an additional 128,400 shares in the last quarter. GAMMA Investing LLC lifted its holdings in CNA Financial by 5,501.5% in the 1st quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock valued at $5,835,000 after purchasing an additional 112,836 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in CNA Financial by 27,890.0% in the 4th quarter. Deutsche Bank AG now owns 83,970 shares of the insurance provider's stock valued at $4,062,000 after purchasing an additional 83,670 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $49.00, for a total value of $306,250.00. Following the transaction, the chairman owned 686,838 shares in the company, valued at approximately $33,655,062. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott R. Lindquist sold 10,000 shares of CNA Financial stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $48.81, for a total value of $488,100.00. Following the transaction, the chief financial officer owned 89,867 shares in the company, valued at approximately $4,386,408.27. This represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,630 shares of company stock worth $1,204,802 in the last 90 days. 0.30% of the stock is currently owned by insiders.

CNA Financial Price Performance

CNA stock traded down $0.08 during midday trading on Friday, reaching $47.81. The stock had a trading volume of 15,058 shares, compared to its average volume of 417,556. The company's fifty day simple moving average is $46.51 and its 200 day simple moving average is $47.34. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 4.24 and a beta of 0.54. CNA Financial Corporation has a 52-week low of $43.29 and a 52-week high of $51.42.

CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 11.85% and a net margin of 5.99%.During the same quarter last year, the firm posted $1.19 EPS. As a group, sell-side analysts predict that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were issued a $0.46 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.84 dividend on an annualized basis and a yield of 3.8%. CNA Financial's dividend payout ratio (DPR) is presently 57.32%.

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.