Jacobs Levy Equity Management Inc. Buys Shares of 320,106 CNA Financial Corporation $CNA

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in CNA Financial Corporation, purchasing 320,106 shares valued at approximately $16.26 million.
• Insiders at CNA Financial sold a total of 24,630 shares valued at over $1.2 million recently, indicating significant insider selling activity.
• The company's stock recently reported a 1.9% decline, with shares opening at $48.00 and a dividend yield of 3.8% following its last dividend payment.

Jacobs Levy Equity Management Inc. bought a new stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 320,106 shares of the insurance provider's stock, valued at approximately $16,258,000. Jacobs Levy Equity Management Inc. owned 0.12% of CNA Financial as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake 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 worth $43,816,000 after buying an additional 585,076 shares during the period. AQR Capital Management LLC raised its stake in shares of CNA Financial by 21.4% during the 1st quarter. AQR Capital Management LLC now owns 2,355,192 shares of the insurance provider's stock worth $119,090,000 after buying an additional 415,856 shares during the period. Millennium Management LLC raised its stake in CNA Financial by 229.1% in the 4th 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 grew its holdings in shares of CNA Financial by 501.6% during the 4th quarter. Two Sigma Advisers LP now owns 154,000 shares of the insurance provider's stock worth $7,449,000 after purchasing an additional 128,400 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in CNA Financial by 5,501.5% during the 1st quarter. GAMMA Investing LLC now owns 114,887 shares of the insurance provider's stock valued at $5,835,000 after acquiring an additional 112,836 shares during the period. Institutional investors own 98.45% of the company's stock.

CNA Financial Stock Down 0.1%

Shares of NYSE CNA traded down $0.03 during midday trading on Friday, hitting $47.86. 49,845 shares of the company's stock were exchanged, compared to its average volume of 417,758. The company has a market cap of $12.96 billion, a PE ratio of 14.91, a P/E/G ratio of 4.24 and a beta of 0.54. CNA Financial Corporation has a twelve month low of $43.29 and a twelve month high of $51.42. The firm's fifty day simple moving average is $46.51 and its 200-day simple moving average is $47.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27.

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 for the quarter, beating the consensus estimate of $0.94 by $0.29. CNA Financial had a return on equity of 11.85% and a net margin of 5.99%.The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the business posted $1.19 EPS. Research analysts predict that CNA Financial Corporation will post 4.64 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.84 annualized dividend and a dividend yield of 3.8%. CNA Financial's dividend payout ratio is presently 57.32%.

Insider Transactions at CNA Financial

In other news, Chairman Dino Robusto sold 6,250 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $49.00, for a total transaction of $306,250.00. Following the completion of the sale, the chairman directly owned 686,838 shares of the company's stock, valued at $33,655,062. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott R. Lindquist sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $48.81, for a total value of $488,100.00. Following the completion of the sale, the chief financial officer directly owned 89,867 shares of the company's stock, valued at approximately $4,386,408.27. This trade represents a 10.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,630 shares of company stock valued at $1,204,802 in the last three months. 0.30% 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.