Insider Selling: CNA Financial (NYSE:CNA) CAO Sells $1,202,807.04 in Stock

Key Points

• CNA Financial’s chief accounting officer sold 22,656 shares for approximately $1.20 million at an average price of $53.09, reducing his direct ownership by nearly 25%.
• The company beat second-quarter earnings and revenue expectations, reporting $1.19 in EPS and $3.83 billion in revenue, although underlying property-and-casualty profitability weakened as the combined ratio rose to 96.5%.
• CNA maintained its $0.48 quarterly dividend, equivalent to a 3.6% annualized yield, while analysts’ overall rating remained “Moderate Buy” with some cautious Hold assessments.

CNA Financial Corporation (NYSE:CNA - Get Free Report) CAO Daniel Paul Franzetti sold 22,656 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $53.09, for a total value of $1,202,807.04. Following the transaction, the chief accounting officer directly owned 68,032 shares of the company's stock, valued at approximately $3,611,818.88. This trade represents a 24.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

CNA Financial Price Performance

CNA stock traded down $0.66 on Tuesday, reaching $52.93. 728,758 shares of the company's stock were exchanged, compared to its average volume of 494,271. The stock has a fifty day moving average of $48.31 and a 200-day moving average of $47.39. The firm has a market cap of $14.32 billion, a PE ratio of 11.84, a P/E/G ratio of 7.17 and a beta of 0.28. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.27. CNA Financial Corporation has a twelve month low of $41.53 and a twelve month high of $55.71.

CNA Financial (NYSE:CNA - Get Free Report) last released its earnings results on Monday, August 3rd. The insurance provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.11. CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the company earned $1.23 earnings per share. As a group, equities analysts predict that CNA Financial Corporation will post 4.09 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Monday, August 17th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.92 dividend on an annualized basis and a yield of 3.6%. CNA Financial's payout ratio is currently 42.95%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On CNA Financial

Hedge funds have recently modified their holdings of the company. Lloyd Advisory Services LLC. acquired a new position in shares of CNA Financial in the fourth quarter valued at approximately $25,000. State of Wyoming purchased a new position in shares of CNA Financial during the 2nd quarter worth $53,000. Quantbot Technologies LP acquired a new stake in shares of CNA Financial during the second quarter worth $55,000. CIBC Private Wealth Group LLC boosted its holdings in shares of CNA Financial by 142.7% during the third quarter. CIBC Private Wealth Group LLC now owns 1,223 shares of the insurance provider's stock worth $57,000 after purchasing an additional 719 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of CNA Financial by 28.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,435 shares of the insurance provider's stock valued at $67,000 after purchasing an additional 318 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

CNA Financial News Roundup

Here are the key news stories impacting CNA Financial this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. CNA reported core EPS of $1.19, above the $1.08 consensus estimate, while revenue reached $3.83 billion versus expectations of $2.97 billion. Net income increased to $321 million from $299 million a year earlier. CNA Q2 Earnings Beat on Improved Investment Income, Premium Growth
• Positive Sentiment: Investment income and premiums provided important support. Net investment income rose to $701 million, including $570 million from fixed-income securities and other investments. Property and Casualty net written premiums grew 4%, helping offset softer underwriting performance. CNA Financial posts second quarter net income
• Positive Sentiment: CNA maintained its quarterly dividend. The company declared a $0.48-per-share dividend payable September 3 to shareholders of record August 17, supporting its income-investment appeal and representing an annualized yield of approximately 3.6%.
• Neutral Sentiment: Analyst sentiment remains cautious. Recent reviews characterize CNA as financially improved and attractively valued, but maintain a “Hold” or unchanged-outlook stance, suggesting the earnings beat may already be reflected in the stock’s valuation. CNA Financial Q2 Review: Back To Profitability, Still A Hold
• Negative Sentiment: Underlying insurance profitability weakened. P&C core income fell to $426 million from $448 million, and the combined ratio deteriorated to 96.5% from 94.1%. Core income also declined year over year, indicating that the headline earnings growth relied heavily on investment income rather than improved underwriting.

About CNA Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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