New York State Common Retirement Fund Lowers Position in CNA Financial Corporation (NYSE:CNA)

Key Points

• The New York State Common Retirement Fund reduced its holdings in CNA Financial Corporation by 95.2%, selling 254,400 shares and now owning only 12,696 shares, valued at approximately $645,000.
• CNA Financial reported a quarterly EPS of $1.03, missing analysts' expectations of $1.16, with revenues of $3.63 billion, below the anticipated $3.68 billion.
• The company declared a quarterly dividend of $0.46 per share, resulting in an annualized yield of 4.14% based on its stock price.

New York State Common Retirement Fund lowered its stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 95.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,696 shares of the insurance provider's stock after selling 254,400 shares during the quarter. New York State Common Retirement Fund's holdings in CNA Financial were worth $645,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its position in CNA Financial by 56.4% in the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock worth $32,000 after purchasing an additional 225 shares during the last quarter. True Wealth Design LLC raised its stake in shares of CNA Financial by 60.4% during the 4th 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 bought a new position in CNA Financial during the fourth quarter valued at about $74,000. Covestor Ltd grew its position in CNA Financial by 33.4% during the fourth quarter. Covestor Ltd now owns 2,079 shares of the insurance provider's stock valued at $100,000 after buying an additional 521 shares during the period. Finally, GAMMA Investing LLC increased its holdings in CNA Financial by 10.3% during the first quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider's stock worth $115,000 after buying an additional 211 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other news, EVP Mark Steven James sold 5,015 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 27,059 shares of the company's stock, valued at $1,308,302.65. This represents a 15.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Dino Robusto sold 6,250 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $47.61, for a total value of $297,562.50. Following the transaction, the chairman directly owned 711,838 shares in the company, valued at $33,890,607.18. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,515 shares of company stock worth $837,725 in the last ninety days. Insiders own 0.30% of the company's stock.

CNA Financial Stock Performance

CNA stock traded up $0.44 during mid-day trading on Friday, hitting $44.40. The company had a trading volume of 530,845 shares, compared to its average volume of 686,551. CNA Financial Corporation has a 12 month low of $43.29 and a 12 month high of $52.36. The stock's fifty day moving average price is $45.82 and its two-hundred day moving average price is $47.60. The firm has a market cap of $12.01 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 5.80 and a beta of 0.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.27 and a current ratio of 0.27.

CNA Financial (NYSE:CNA - Get Free Report) last announced 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 net margin of 6.19% and a return on equity of 11.99%. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the company posted $1.30 earnings per share. On average, analysts forecast that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

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

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.