Vident Advisory LLC Cuts Position in CNA Financial Corporation $CNA

Key Points

• Vident Advisory LLC significantly reduced its holdings in CNA Financial Corporation by 49.7%, ending the first quarter with 17,689 shares valued at $898,000.
• CNA Financial reported impressive quarterly earnings of $1.23 per share, exceeding analyst expectations of $0.94, with revenue hitting $3.37 billion.
• The company announced a quarterly dividend of $0.46 per share, reflecting an annualized dividend yield of 3.8% and a payout ratio of 57.32%.

Vident Advisory LLC lowered its holdings in CNA Financial Corporation (NYSE:CNA - Free Report) by 49.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,689 shares of the insurance provider's stock after selling 17,445 shares during the quarter. Vident Advisory LLC's holdings in CNA Financial were worth $898,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in 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 valued at $60,452,000 after purchasing an additional 13,127 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in CNA Financial by 210.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 862,690 shares of the insurance provider's stock worth $43,816,000 after acquiring an additional 585,076 shares in the last quarter. CORDA Investment Management LLC. lifted its position in CNA Financial by 0.7% in the first quarter. CORDA Investment Management LLC. now owns 665,982 shares of the insurance provider's stock valued at $33,825,000 after acquiring an additional 4,450 shares during the last quarter. Vanguard Group Inc. lifted its position in CNA Financial by 2.0% in the first quarter. Vanguard Group Inc. now owns 556,695 shares of the insurance provider's stock valued at $28,275,000 after acquiring an additional 11,019 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in CNA Financial by 19.5% in the first quarter. Northern Trust Corp now owns 317,804 shares of the insurance provider's stock valued at $16,141,000 after acquiring an additional 51,878 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Buying and Selling at CNA Financial

In other CNA Financial news, CFO Scott R. Lindquist sold 10,000 shares of CNA Financial stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $48.81, for a total value of $488,100.00. Following the sale, the chief financial officer owned 89,867 shares of the company's stock, valued at approximately $4,386,408.27. The trade was a 10.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $49.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,630 shares of company stock worth $1,204,802 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

CNA Financial Stock Performance

NYSE:CNA traded up $0.08 during mid-day trading on Wednesday, reaching $47.36. 376,096 shares of the stock were exchanged, compared to its average volume of 377,423. The stock has a market capitalization of $12.82 billion, a P/E ratio of 14.75, a P/E/G ratio of 4.23 and a beta of 0.54. The company has a 50 day simple moving average of $46.46 and a 200-day simple moving average of $47.34. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.23. CNA Financial Corporation has a 1 year low of $43.29 and a 1 year high of $51.42.

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

CNA Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. 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.