CORDA Investment Management LLC. Buys Shares of 753,707 CNA Financial Corporation $CNA

Key Points

• CORDA Investment Management acquired 753,707 shares of CNA Financial in the second quarter, worth approximately $36.6 million and representing 0.28% of the insurer’s outstanding stock. Institutional investors collectively own 98.45% of CNA.
• CNA Financial reported quarterly EPS of $1.19, exceeding estimates of $1.08, while revenue reached $3.83 billion versus expectations of $2.97 billion. Analysts maintain an overall “Moderate Buy” rating.
• The company declared a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 payout and a 3.8% yield; two executives recently sold shares, reducing their respective holdings by roughly 24%.

CORDA Investment Management LLC. purchased a new stake in CNA Financial Corporation (NYSE:CNA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 753,707 shares of the insurance provider's stock, valued at approximately $36,638,000. CNA Financial accounts for approximately 2.2% of CORDA Investment Management LLC.'s holdings, making the stock its 19th largest position. CORDA Investment Management LLC. owned 0.28% of CNA Financial as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in CNA Financial by 14.6% during the fourth quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider's stock worth $132,941,000 after acquiring an additional 354,076 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of CNA Financial by 34.6% in the 1st quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider's stock valued at $96,482,000 after purchasing an additional 540,448 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CNA Financial by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 890,953 shares of the insurance provider's stock worth $42,534,000 after purchasing an additional 2,348 shares during the period. UBS Group AG grew its holdings in shares of CNA Financial by 25.9% during the 4th quarter. UBS Group AG now owns 867,787 shares of the insurance provider's stock worth $41,428,000 after purchasing an additional 178,314 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of CNA Financial by 48.9% during the 1st quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider's stock worth $31,467,000 after purchasing an additional 225,030 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CNA. Zacks Research upgraded shares of CNA Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

CNA Financial Price Performance

CNA stock opened at $50.99 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $13.80 billion, a PE ratio of 11.21, a P/E/G ratio of 6.89 and a beta of 0.28. CNA Financial Corporation has a 12-month low of $41.53 and a 12-month high of $55.71. The business's fifty day moving average price is $49.94 and its 200 day moving average price is $47.71.

CNA Financial (NYSE:CNA - Get Free Report) last announced its earnings results on Monday, August 3rd. The insurance provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.11. The company had revenue of $3.83 billion during the quarter, compared to analysts' expectations of $2.97 billion. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.During the same period last year, the business posted $1.23 EPS. On average, sell-side analysts anticipate that CNA Financial Corporation will post 4.14 EPS for the current year.

CNA Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.92 annualized dividend and a dividend yield of 3.8%. CNA Financial's dividend payout ratio (DPR) is presently 42.20%.

Insider Activity at CNA Financial

In related news, CAO Daniel Paul Franzetti sold 22,656 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total transaction of $1,202,807.04. Following the sale, the chief accounting officer directly owned 68,032 shares of the company's stock, valued at $3,611,818.88. This represents a 24.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Steven James sold 8,273 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $53.15, for a total transaction of $439,709.95. Following the sale, the executive vice president owned 26,446 shares in the company, valued at approximately $1,405,604.90. This trade represents a 23.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company's stock.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.

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