Connor Clark & Lunn Investment Management Ltd. Lowers Stake in CNA Financial Corporation (NYSE:CNA)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in CNA Financial Corporation by 31.3% during the first quarter, now owning 93,840 shares valued at approximately $4.77 million.
• Insider transactions included EVP Mark Steven James selling 5,015 shares and Chairman Dino Robusto selling 6,250 shares, representing decreases of 15.64% and 0.88% in their respective positions.
• CNA Financial declared a quarterly dividend of $0.46, with an annualized dividend yield of 3.9%, and is expected to report an EPS of 4.64 for the current fiscal year.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in CNA Financial Corporation (NYSE:CNA - Free Report) by 31.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 93,840 shares of the insurance provider's stock after selling 42,807 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in CNA Financial were worth $4,766,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in CNA Financial in the 1st quarter worth about $887,000. Wealth Enhancement Advisory Services LLC grew its position in CNA Financial by 37.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,934 shares of the insurance provider's stock worth $1,419,000 after purchasing an additional 7,665 shares in the last quarter. SG Americas Securities LLC bought a new stake in CNA Financial in the 1st quarter worth about $470,000. Nisa Investment Advisors LLC grew its position in CNA Financial by 57.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 38,120 shares of the insurance provider's stock worth $1,936,000 after purchasing an additional 13,900 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 worth $5,835,000 after purchasing an additional 112,836 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

CNA Financial Stock Performance

Shares of CNA Financial stock traded up $0.01 on Friday, reaching $47.72. 354,357 shares of the company traded hands, compared to its average volume of 527,925. CNA Financial Corporation has a 52 week low of $43.29 and a 52 week high of $52.36. The company has a 50 day moving average of $45.42 and a 200 day moving average of $47.40. The firm has a market capitalization of $12.92 billion, a PE ratio of 14.87, a PEG ratio of 4.37 and a beta of 0.51. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27.

CNA Financial (NYSE:CNA - Get Free Report) last released its earnings results 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 firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.76 billion. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. During the same period in the prior year, the firm earned $1.19 EPS. Equities analysts forecast that CNA Financial Corporation will post 4.64 earnings per share for the current year.

CNA Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.84 annualized dividend and a yield of 3.9%. CNA Financial's dividend payout ratio (DPR) is 57.32%.

Insider Activity at CNA Financial

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $47.63, for a total value of $297,687.50. Following the sale, the chairman directly owned 705,588 shares in the company, valued at $33,607,156.44. This represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Steven James sold 5,015 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was 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 owned 27,059 shares in the company, valued at $1,308,302.65. This represents a 15.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

About CNA Financial

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.