Corient Private Wealth LP Acquires New Stake in CNA Financial Corporation $CNA

Key Points

• Corient Private Wealth acquired 52,204 CNA Financial shares in the second quarter, valued at approximately $2.54 million. Institutional investors collectively own 98.45% of the company.
• CNA Financial reported quarterly earnings of $1.19 per share, beating analysts’ $1.08 estimate, while revenue reached $3.83 billion versus the $2.97 billion consensus forecast.
• The company declared a quarterly dividend of $0.48 per share, equivalent to $1.92 annually and a 3.9% yield. Analysts maintain a “Moderate Buy” consensus rating, although two executives recently sold shares.

Corient Private Wealth LP bought a new position in CNA Financial Corporation (NYSE:CNA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 52,204 shares of the insurance provider's stock, valued at approximately $2,538,000.

Other institutional investors have also recently modified their holdings of the company. Lloyd Advisory Services LLC. purchased a new position in shares of CNA Financial in the 4th quarter worth about $25,000. Compass Financial Management LLC bought a new position in CNA Financial in the 2nd quarter worth about $36,000. State of Wyoming purchased a new stake in CNA Financial during the 2nd quarter valued at about $53,000. Quantbot Technologies LP purchased a new stake in CNA Financial during the 2nd quarter valued at about $55,000. Finally, CIBC Private Wealth Group LLC increased its stake in CNA Financial by 142.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,223 shares of the insurance provider's stock valued at $57,000 after purchasing an additional 719 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CNA Financial Trading Down 0.1%

Shares of NYSE:CNA opened at $48.65 on Thursday. The company has a market cap of $13.16 billion, a P/E ratio of 10.69, a PEG ratio of 6.50 and a beta of 0.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. CNA Financial Corporation has a 1 year low of $41.53 and a 1 year high of $55.71. The stock's fifty day moving average price is $51.03 and its 200-day moving average price is $47.78.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.08 by $0.11. CNA Financial had a return on equity of 11.34% and a net margin of 8.16%.The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $1.23 EPS. Sell-side analysts expect that CNA Financial Corporation will post 4.19 earnings per share for the current year.

CNA Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Monday, August 17th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 17th. 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 firm'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 value of $1,202,807.04. Following the sale, the chief accounting officer owned 68,032 shares in the company, valued at approximately $3,611,818.88. This trade represents a 24.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Steven James sold 8,273 shares of CNA Financial 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 completion of the sale, the executive vice president directly owned 26,446 shares of the company's stock, valued at approximately $1,405,604.90. This trade represents a 23.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by insiders.

CNA Financial 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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