Comerica Bank Acquires 9,214 Shares of 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 raised its holdings in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 168.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,690 shares of the insurance provider's stock after acquiring an additional 9,214 shares during the quarter. Comerica Bank's holdings in CNA Financial were worth $746,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CNA. Charles Schwab Investment Management Inc. increased its holdings in shares of CNA Financial by 210.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider's stock worth $43,816,000 after purchasing an additional 585,076 shares during the last quarter. Millennium Management LLC increased its holdings in shares of CNA Financial by 229.1% in the fourth quarter. Millennium Management LLC now owns 268,139 shares of the insurance provider's stock worth $12,970,000 after purchasing an additional 186,653 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of CNA Financial by 501.6% in the fourth quarter. Two Sigma Advisers LP now owns 154,000 shares of the insurance provider's stock worth $7,449,000 after purchasing an additional 128,400 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CNA Financial by 5,501.5% in the first quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock worth $5,835,000 after purchasing an additional 112,836 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of CNA Financial by 27,890.0% in the fourth quarter. Deutsche Bank AG now owns 83,970 shares of the insurance provider's stock worth $4,062,000 after purchasing an additional 83,670 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CNA Financial news, CFO Scott R. Lindquist sold 8,380 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $48.98, for a total transaction of $410,452.40. Following the sale, the chief financial officer directly owned 81,487 shares in the company, valued at $3,991,233.26. This represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Dino Robusto sold 6,250 shares of CNA Financial stock in a transaction that occurred 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 completion of the transaction, the chairman owned 686,838 shares of the company's stock, valued at approximately $33,655,062. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,630 shares of company stock worth $1,204,802. Company insiders own 0.30% of the company's stock.

CNA Financial Price Performance

Shares of CNA stock traded down $0.40 during trading hours on Friday, hitting $47.49. The stock had a trading volume of 271,974 shares, compared to its average volume of 372,543. CNA Financial Corporation has a one year low of $43.29 and a one year high of $51.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27. The stock's 50-day moving average price is $46.54 and its two-hundred day moving average price is $47.33. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 4.28 and a beta of 0.54.

CNA Financial (NYSE:CNA - Get Free Report) last issued its earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.29. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The firm had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the firm posted $1.19 earnings per share. Equities analysts forecast that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 18th. CNA Financial's payout ratio is presently 57.32%.

CNA Financial 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.