Hsbc Holdings PLC Trims Position in CNA Financial Corporation $CNA

Key Points

• HSBC Holdings PLC sharply reduced its stake in CNA Financial, cutting its position by 87.6% in the fourth quarter and leaving it with 15,240 shares worth about $727,000.
• CNA Financial’s latest earnings came in mixed: it posted $0.83 EPS, well below estimates, but revenue of $3.68 billion beat expectations. Analysts now have a consensus rating of Hold on the stock.
• The company continues to return cash to shareholders, recently paying a quarterly dividend of $0.48 per share, or $1.92 annually, which works out to a yield of about 3.8%.

Hsbc Holdings PLC lessened its holdings in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 87.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,240 shares of the insurance provider's stock after selling 107,653 shares during the quarter. Hsbc Holdings PLC's holdings in CNA Financial were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its position in CNA Financial by 117.2% during the 4th quarter. Corient Private Wealth LLC now owns 12,697 shares of the insurance provider's stock valued at $606,000 after purchasing an additional 6,850 shares during the period. DGS Capital Management LLC purchased a new stake in shares of CNA Financial in the 4th quarter worth about $268,000. Kera Capital Partners Inc. purchased a new stake in shares of CNA Financial in the 4th quarter worth about $381,000. Invesco Ltd. boosted its stake in shares of CNA Financial by 1.7% during the 4th quarter. Invesco Ltd. now owns 114,144 shares of the insurance provider's stock valued at $5,449,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of CNA Financial by 19.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 16,208 shares of the insurance provider's stock valued at $774,000 after purchasing an additional 2,606 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CNA shares. Zacks Research cut shares of CNA Financial from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of CNA Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

CNA Financial Price Performance

CNA opened at $50.77 on Wednesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.27. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 7.15 and a beta of 0.28. The stock has a fifty day simple moving average of $45.74 and a two-hundred day simple moving average of $46.82. CNA Financial Corporation has a 12-month low of $41.53 and a 12-month high of $52.86.

CNA Financial (NYSE:CNA - Get Free Report) last announced its earnings results on Monday, May 4th. The insurance provider reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.47). The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.93 billion. CNA Financial had a net margin of 8.08% and a return on equity of 11.57%. During the same quarter last year, the firm posted $1.03 EPS. Research analysts predict that CNA Financial Corporation will post 4.05 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, May 18th. CNA Financial's dividend payout ratio is 42.95%.

About CNA Financial

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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