CNA Financial Corporation (NYSE:CNA) Position Trimmed by Private Management Group Inc.

Key Points

• Private Management Group Inc. has significantly reduced its stake in CNA Financial Corporation by 92.6%, resulting in ownership of just 24,539 shares valued at approximately $1.25 million.
• CNA Financial reported earnings per share (EPS) of $1.03 for the recent quarter, missing estimates by $0.13, with a total revenue of $3.63 billion.
• The company declared a quarterly dividend of $0.46, representing a 4.14% dividend yield and a payout ratio of 56.10%.

Private Management Group Inc. trimmed its position in CNA Financial Corporation (NYSE:CNA - Free Report) by 92.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,539 shares of the insurance provider's stock after selling 305,237 shares during the period. Private Management Group Inc.'s holdings in CNA Financial were worth $1,246,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its holdings in CNA Financial by 56.4% during the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock worth $32,000 after acquiring an additional 225 shares during the period. True Wealth Design LLC grew its holdings in CNA Financial by 60.4% during the fourth quarter. True Wealth Design LLC now owns 1,166 shares of the insurance provider's stock worth $56,000 after acquiring an additional 439 shares during the period. Quantbot Technologies LP acquired a new position in CNA Financial during the fourth quarter worth about $74,000. Covestor Ltd grew its holdings in CNA Financial by 33.4% during the fourth quarter. Covestor Ltd now owns 2,079 shares of the insurance provider's stock worth $100,000 after acquiring an additional 521 shares during the period. Finally, GAMMA Investing LLC grew 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 acquiring an additional 211 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

CNA Financial Price Performance

NYSE:CNA traded down $0.22 during mid-day trading on Wednesday, reaching $44.26. 107,680 shares of the stock were exchanged, compared to its average volume of 412,886. The business has a fifty day moving average price of $45.65 and a 200 day moving average price of $47.57. The firm has a market capitalization of $11.98 billion, a PE ratio of 13.51, a PEG ratio of 5.74 and a beta of 0.51. CNA Financial Corporation has a 1-year low of $43.29 and a 1-year high of $52.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24.

CNA Financial (NYSE:CNA - Get Free Report) last released its earnings results on Monday, May 5th. The insurance provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.13). The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.68 billion. CNA Financial had a return on equity of 11.99% and a net margin of 6.19%. During the same period in the previous year, the firm earned $1.30 earnings per share. Research analysts expect that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.84 dividend on an annualized basis and a yield of 4.16%. CNA Financial's dividend payout ratio is currently 56.10%.

Insider Transactions at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of CNA Financial stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $47.61, for a total value of $297,562.50. Following the transaction, the chairman owned 711,838 shares of the company's stock, valued at approximately $33,890,607.18. This trade represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Steven James sold 5,015 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total transaction of $242,475.25. Following the sale, the executive vice president directly owned 27,059 shares in the company, valued at approximately $1,308,302.65. This trade represents a 15.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,515 shares of company stock worth $837,725 in the last three months. 0.36% of the stock is currently owned by company insiders.

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.