Squarepoint Ops LLC Buys 55,692 Shares of CNA Financial Corporation $CNA

Key Points

• Squarepoint Ops increased its CNA Financial stake by 24.8% in the second quarter, buying 55,692 shares to bring its holdings to 280,337 shares valued at approximately $13.6 million. Institutional investors collectively own 98.45% of the insurer.
• CNA Financial reported quarterly earnings of $1.19 per share, beating analyst estimates of $1.08, while revenue reached $3.83 billion versus expectations of $2.97 billion.
• The company paid a quarterly dividend of $0.48 per share, equivalent to $1.92 annually and a 4.1% yield. Shares opened at $47.30, and analysts’ consensus rating was “Moderate Buy.”

Squarepoint Ops LLC lifted its stake in CNA Financial Corporation (NYSE:CNA - Free Report) by 24.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,337 shares of the insurance provider's stock after purchasing an additional 55,692 shares during the quarter. Squarepoint Ops LLC owned 0.10% of CNA Financial worth $13,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Private Advisory Group LLC purchased a new position in CNA Financial in the 2nd quarter worth about $7,857,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CNA Financial during the 2nd quarter valued at about $1,408,000. Renaissance Technologies LLC grew its stake in shares of CNA Financial by 162.3% in the first quarter. Renaissance Technologies LLC now owns 54,300 shares of the insurance provider's stock worth $2,493,000 after acquiring an additional 33,600 shares during the period. Perigon Wealth Management LLC purchased a new position in shares of CNA Financial during the second quarter valued at approximately $1,418,000. Finally, Hsbc Holdings PLC bought a new position in CNA Financial during the second quarter valued at approximately $7,622,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Daniel Franzetti sold 22,656 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $53.09, for a total transaction of $1,202,807.04. Following the sale, the chief accounting officer directly owned 68,032 shares in the company, valued at $3,611,818.88. This trade represents a 24.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark James sold 8,273 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $53.15, for a total value of $439,709.95. Following the completion of the transaction, the executive vice president owned 26,446 shares in the company, valued at $1,405,604.90. The trade was a 23.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company's stock.

CNA Financial Trading Down 1.0%

NYSE:CNA opened at $47.30 on Thursday. CNA Financial Corporation has a one year low of $41.53 and a one year high of $55.71. The business has a fifty day moving average price of $51.00 and a 200-day moving average price of $47.75. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 6.37 and a beta of 0.27. 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 issued its quarterly earnings results on Monday, August 3rd. The insurance provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. Sell-side analysts forecast that CNA Financial Corporation will post 4.19 EPS for the current year.

CNA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 17th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, August 17th. CNA Financial's dividend payout ratio is presently 42.20%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CNA shares. Zacks Research raised CNA Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. Weiss Ratings upgraded CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

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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