CNA Financial Corporation $CNA Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P reduced its stake in CNA Financial Corporation by 4.3%, selling 6,228 shares and now holding approximately 139,329 shares valued at about $7.08 million.
• CNA Financial reported a quarterly earnings per share (EPS) of $1.23, exceeding estimates by $0.29, with revenues of $3.37 billion compared to the consensus estimate of $2.76 billion.
• The company declared a quarterly dividend of $0.46 per share, with the payment scheduled for September 4th, representing an annualized dividend yield of 3.7%.

Martingale Asset Management L P lowered its stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,329 shares of the insurance provider's stock after selling 6,228 shares during the period. Martingale Asset Management L P owned 0.05% of CNA Financial worth $7,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in CNA Financial by 10.3% during the first quarter. GAMMA Investing LLC now owns 2,262 shares of the insurance provider's stock worth $115,000 after buying an additional 211 shares during the period. Hexagon Capital Partners LLC boosted its stake in CNA Financial by 56.4% during the first quarter. Hexagon Capital Partners LLC now owns 624 shares of the insurance provider's stock worth $32,000 after buying an additional 225 shares during the period. Applied Finance Capital Management LLC boosted its stake in CNA Financial by 3.4% during the first quarter. Applied Finance Capital Management LLC now owns 6,829 shares of the insurance provider's stock worth $347,000 after buying an additional 227 shares during the period. Tidal Investments LLC boosted its stake in CNA Financial by 2.1% during the fourth quarter. Tidal Investments LLC now owns 15,289 shares of the insurance provider's stock worth $740,000 after buying an additional 315 shares during the period. Finally, Commerce Bank boosted its stake in CNA Financial by 2.6% during the fourth quarter. Commerce Bank now owns 12,856 shares of the insurance provider's stock worth $622,000 after buying an additional 320 shares during the period. Institutional investors own 98.45% of the company's stock.

Insider Transactions at CNA Financial

In related news, Chairman Dino Robusto sold 6,250 shares of CNA Financial stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $47.63, for a total value of $297,687.50. Following the sale, the chairman owned 705,588 shares of the company's stock, valued at approximately $33,607,156.44. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company's stock.

CNA Financial Trading Up 1.1%

Shares of CNA traded up $0.56 during trading hours on Wednesday, reaching $49.43. 51,395 shares of the company traded hands, compared to its average volume of 422,434. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 4.38 and a beta of 0.51. CNA Financial Corporation has a 12-month low of $43.29 and a 12-month high of $52.36. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23. The stock's fifty day moving average price is $45.83 and its 200 day moving average price is $47.36.

CNA Financial (NYSE:CNA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the company posted $1.19 earnings per share. Sell-side analysts forecast that CNA Financial Corporation will post 4.64 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 4th. Investors 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 dividend on an annualized basis and a yield of 3.7%. CNA Financial's dividend payout ratio (DPR) 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.