SummitTX Capital L.P. Buys Shares of 26,218 CNA Financial Corporation $CNA

Key Points

• SummitTX Capital initiated a position in CNA Financial by purchasing 26,218 shares valued at approximately $1.2 million. Institutional investors collectively own 98.45% of the company, with several major funds increasing their holdings.
• CNA Financial’s stock opened at $55.11, near its 52-week high, while the company reported quarterly EPS of $0.83—below the $1.30 consensus estimate—despite revenue of $3.68 billion exceeding expectations.
• The company paid a quarterly dividend of $0.48 per share, equivalent to an annualized $1.92 dividend and a 3.5% yield. Analyst sentiment is moderately positive, with one Buy and one Hold rating.

SummitTX Capital L.P. bought a new position in CNA Financial Corporation (NYSE:CNA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,218 shares of the insurance provider's stock, valued at approximately $1,204,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of CNA Financial by 14.6% in the 4th quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider's stock valued at $132,941,000 after buying an additional 354,076 shares in the last quarter. First Trust Advisors LP grew its stake in CNA Financial by 34.6% in the first quarter. First Trust Advisors LP now owns 2,101,092 shares of the insurance provider's stock valued at $96,482,000 after acquiring an additional 540,448 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CNA Financial by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 890,953 shares of the insurance provider's stock worth $42,534,000 after acquiring an additional 2,348 shares in the last quarter. UBS Group AG increased its holdings in shares of CNA Financial by 25.9% in the fourth quarter. UBS Group AG now owns 867,787 shares of the insurance provider's stock worth $41,428,000 after acquiring an additional 178,314 shares in the last quarter. Finally, CORDA Investment Management LLC. increased its holdings in shares of CNA Financial by 1.4% in the first quarter. CORDA Investment Management LLC. now owns 730,219 shares of the insurance provider's stock worth $33,532,000 after acquiring an additional 10,054 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

CNA Financial Stock Down 0.4%

NYSE:CNA opened at $55.11 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.26. CNA Financial Corporation has a 52-week low of $41.53 and a 52-week high of $55.71. The company has a market cap of $14.91 billion, a PE ratio of 12.33, a PEG ratio of 7.56 and a beta of 0.28. The stock has a 50-day simple moving average of $47.77 and a 200 day simple moving average of $47.24.

CNA Financial (NYSE:CNA - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.83 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.47). CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $1.03 earnings per share. On average, sell-side analysts expect that CNA Financial Corporation will post 4.09 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, May 18th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.5%. CNA Financial's dividend payout ratio is currently 42.95%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNA shares. Weiss Ratings upgraded CNA Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 17th. Zacks Research upgraded shares of CNA Financial from a "strong sell" rating to a "hold" rating in a report on Thursday, July 16th. One equities 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.com, the company currently has an average rating of "Moderate Buy".

CNA Financial Company 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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