Ieq Capital LLC Raises Stake in CNA Financial Corporation $CNA

Key Points

• Ieq Capital LLC increased its stake in CNA Financial Corporation by 35.3%, owning 112,142 shares valued at approximately $5.7 million.
• CNA Financial reported a strong earnings performance with $1.23 earnings per share, surpassing analyst estimates of $0.94 and generating revenue of $3.37 billion for the quarter.
• The company declared a quarterly dividend of $0.46 per share, with an annualized yield of 3.7%, set to be paid on September 4th.

Ieq Capital LLC grew its stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 35.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,142 shares of the insurance provider's stock after buying an additional 29,249 shares during the period. Ieq Capital LLC's holdings in CNA Financial were worth $5,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in CNA Financial by 210.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider's stock valued at $43,816,000 after purchasing an additional 585,076 shares during the last quarter. AQR Capital Management LLC lifted its position in CNA Financial by 41.4% during the fourth quarter. AQR Capital Management LLC now owns 1,939,336 shares of the insurance provider's stock valued at $93,806,000 after purchasing an additional 567,926 shares during the last quarter. Millennium Management LLC lifted its position in CNA Financial by 229.1% during the fourth quarter. Millennium Management LLC now owns 268,139 shares of the insurance provider's stock valued at $12,970,000 after purchasing an additional 186,653 shares during the last quarter. Two Sigma Advisers LP lifted its position in CNA Financial by 501.6% during the fourth quarter. Two Sigma Advisers LP now owns 154,000 shares of the insurance provider's stock valued at $7,449,000 after purchasing an additional 128,400 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in CNA Financial by 5,501.5% during the first quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock valued at $5,835,000 after purchasing an additional 112,836 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

CNA Financial Price Performance

CNA Financial stock traded down $0.38 during mid-day trading on Wednesday, hitting $48.60. 75,628 shares of the company traded hands, compared to its average volume of 420,825. CNA Financial Corporation has a one year low of $43.29 and a one year high of $52.24. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 4.43 and a beta of 0.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a fifty day moving average price of $46.22 and a 200-day moving average price of $47.37.

CNA Financial (NYSE:CNA - Get Free Report) last announced its earnings results on Monday, August 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.29. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.76 billion. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. During the same period in the previous year, the business posted $1.19 earnings per share. On average, equities analysts predict that CNA Financial Corporation will post 4.64 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.84 annualized dividend and a yield of 3.8%. CNA Financial's dividend payout ratio is currently 57.32%.

CNA Financial Company 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.