Sciencast Management LP Purchases New Shares in CNA Financial Corporation $CNA

Key Points

• Sciencast Management LP purchased 9,361 shares of CNA Financial Corporation for about $475,000, as reported in a recent SEC filing.
• A significant majority of CNA Financial's stock, approximately 98.45%, is owned by institutional investors, indicating strong institutional interest in the company.
• CNA Financial recently declared a quarterly dividend of $0.46 per share, yielding 3.9% annually, reflecting the company's commitment to returning value to shareholders.

Sciencast Management LP bought a new stake in shares of CNA Financial Corporation (NYSE:CNA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,361 shares of the insurance provider's stock, valued at approximately $475,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNA. AQR Capital Management LLC raised its holdings in shares of CNA Financial by 21.4% in the first 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 last quarter. Bank of New York Mellon Corp raised its holdings in shares of CNA Financial by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 1,190,237 shares of the insurance provider's stock worth $60,452,000 after buying an additional 13,127 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CNA Financial by 210.8% in 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 last quarter. CORDA Investment Management LLC. raised its holdings in shares of CNA Financial by 0.7% in the first quarter. CORDA Investment Management LLC. now owns 665,982 shares of the insurance provider's stock worth $33,825,000 after buying an additional 4,450 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of CNA Financial by 2.0% in the first quarter. Vanguard Group Inc. now owns 556,695 shares of the insurance provider's stock worth $28,275,000 after buying an additional 11,019 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

CNA Financial Stock Performance

Shares of NYSE CNA traded down $0.40 during midday trading on Friday, reaching $47.49. The company had a trading volume of 271,974 shares, compared to its average volume of 368,424. The business's 50-day simple moving average is $46.54 and its 200 day simple moving average is $47.31. The stock has a market cap of $12.85 billion, a P/E ratio of 14.79, a P/E/G ratio of 4.25 and a beta of 0.54. CNA Financial Corporation has a 1 year low of $43.29 and a 1 year high of $51.42. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23.

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

CNA Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, August 18th. CNA Financial's dividend payout ratio (DPR) is 57.32%.

Insider Buying and Selling at CNA Financial

In related news, CFO Scott R. Lindquist sold 10,000 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $48.81, for a total transaction of $488,100.00. Following the completion of the transaction, the chief financial officer owned 89,867 shares of the company's stock, valued at $4,386,408.27. This trade represents a 10.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chairman directly owned 686,838 shares of the company's stock, valued at approximately $33,655,062. This trade represents a 0.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,630 shares of company stock valued at $1,204,802. 0.36% of the stock is currently owned by corporate insiders.

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.