Perigon Wealth Management LLC Takes Position in CNA Financial Corporation $CNA

Key Points

• Perigon Wealth Management acquired 29,176 CNA Financial shares during the second quarter, worth approximately $1.42 million. Institutional investors collectively own 98.45% of the company.
• CNA Financial reported quarterly EPS of $1.19, surpassing estimates of $1.08, while revenue reached $3.83 billion versus expectations of $2.97 billion.
• The company declared a quarterly dividend of $0.48 per share, or $1.92 annually, representing a 3.8% yield; analysts maintain a “Moderate Buy” consensus rating.

Perigon Wealth Management LLC acquired a new position in CNA Financial Corporation (NYSE:CNA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 29,176 shares of the insurance provider's stock, valued at approximately $1,418,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lloyd Advisory Services LLC. bought a new position in CNA Financial during the 4th quarter worth approximately $25,000. State of Wyoming bought a new position in shares of CNA Financial in the second quarter worth approximately $53,000. Quantbot Technologies LP purchased a new position in shares of CNA Financial in the second quarter worth $55,000. CIBC Private Wealth Group LLC raised its holdings 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 buying an additional 719 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in CNA Financial by 28.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider's stock valued at $67,000 after buying an additional 318 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

CNA Financial Price Performance

Shares of NYSE CNA opened at $50.35 on Wednesday. CNA Financial Corporation has a 1 year low of $41.53 and a 1 year high of $55.71. The stock has a market capitalization of $13.62 billion, a P/E ratio of 11.07, a P/E/G ratio of 6.89 and a beta of 0.28. The company's 50-day moving average is $50.21 and its 200 day moving average is $47.76. 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 (NYSE:CNA - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.19 earnings per share for the quarter, beating 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 business had revenue of $3.83 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same period in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts expect that CNA Financial Corporation will post 4.14 earnings per share for the current year.

CNA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Monday, August 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 17th. CNA Financial's dividend payout ratio (DPR) is 42.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. Zacks Research upgraded 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Insider Transactions at CNA Financial

In other news, CAO Daniel Paul Franzetti sold 22,656 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $53.09, for a total value of $1,202,807.04. Following the sale, the chief accounting officer directly owned 68,032 shares of the company's stock, valued at $3,611,818.88. The trade was a 24.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Steven James sold 8,273 shares of CNA Financial stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $53.15, for a total value of $439,709.95. Following the transaction, the executive vice president owned 26,446 shares of the company's stock, valued at $1,405,604.90. The trade was a 23.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.29% of the company's stock.

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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