CNA Financial (NYSE:CNA) Stock: Insider Douglas Worman Sells 40,000 Shares

Key Points

• CEO Douglas Worman sold 40,000 shares for about $1.92 million at an average price of $48.07, reducing his stake by 16.68%; he still owns 199,749 shares.
• CNA reported quarterly EPS of $0.75, missing the $1.21 consensus estimate, although revenue of $3.82 billion exceeded the $3.02 billion forecast.
• The company declared a quarterly dividend of $0.48 per share, equivalent to a 4.0% annualized yield at the stock price cited.

CNA Financial Corporation (NYSE:CNA - Get Free Report) CEO Douglas Worman sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $48.07, for a total transaction of $1,922,800.00. Following the sale, the chief executive officer owned 199,749 shares in the company, valued at approximately $9,601,934.43. The trade was a 16.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

CNA Financial Price Performance

NYSE:CNA traded down $0.10 during trading hours on Thursday, hitting $48.15. 41,300 shares of the stock traded hands, compared to its average volume of 480,701. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 8.32 and a beta of 0.22. CNA Financial Corporation has a 1 year low of $41.53 and a 1 year high of $55.71. The stock has a 50 day moving average price of $47.48 and a 200 day moving average price of $47.77. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.24.

CNA Financial (NYSE:CNA - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The insurance provider reported $0.75 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.46). The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.02 billion. CNA Financial had a net margin of 6.80% and a return on equity of 9.74%. During the same quarter in the previous year, the business earned $1.50 earnings per share. Sell-side analysts forecast that CNA Financial Corporation will post 3.94 EPS for the current fiscal year.

CNA Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Monday, November 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, November 16th. CNA Financial's payout ratio is presently 50.66%.

Institutional Trading of CNA Financial

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC grew its position in shares of CNA Financial by 104.9% during the 3rd quarter. Private Advisor Group LLC now owns 39,396 shares of the insurance provider's stock worth $1,768,000 after buying an additional 20,171 shares in the last quarter. Global Retirement Partners LLC grew its holdings in CNA Financial by 469.8% during the 3rd quarter. Global Retirement Partners LLC now owns 2,564 shares of the insurance provider's stock worth $115,000 after acquiring an additional 2,114 shares in the last quarter. Edgestream Partners L.P. purchased a new position in CNA Financial during the 3rd quarter valued at about $9,005,000. Diversified Trust Co purchased a new position in CNA Financial during the 3rd quarter valued at about $673,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of CNA Financial by 2.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 101,666 shares of the insurance provider's stock valued at $4,563,000 after purchasing an additional 2,302 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CNA. Zacks Research upgraded CNA Financial from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 16th. Weiss Ratings cut CNA Financial from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

CNA Financial Company Profile

CNA Financial Corporation is a commercial property and casualty insurance company headquartered in Chicago. It provides coverage and related risk-management services to businesses and organizations, with offerings that include property, casualty, workers' compensation, professional liability and surety insurance. The company serves customers across the United States and in select international markets. Its products are distributed through independent agents and brokers, and its specialty insurance operations address the needs of businesses in a range of industries.

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