Insider Selling: CNA Financial Co. (NYSE:CNA) EVP Sells $1,119,933.75 in Stock

CNA Financial Co. (NYSE:CNA) EVP Douglas Worman sold 22,973 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.75, for a total value of $1,119,933.75. Following the completion of the sale, the executive vice president now owns 133,777 shares of the company’s stock, valued at $6,521,628.75. This trade represents a 14.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

CNA Financial Stock Up 0.2 %

Shares of NYSE CNA opened at $48.37 on Friday. The stock has a market capitalization of $13.10 billion, a P/E ratio of 10.08, a PEG ratio of 6.22 and a beta of 0.65. The stock’s fifty day moving average is $49.09 and its 200 day moving average is $47.52. CNA Financial Co. has a 52 week low of $39.19 and a 52 week high of $52.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26.

CNA Financial (NYSE:CNA) last released its earnings results on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm earned $1.06 EPS. Sell-side analysts forecast that CNA Financial Co. will post 4.65 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.76 annualized dividend and a yield of 3.64%. CNA Financial’s dividend payout ratio is currently 36.67%.

Institutional Investors Weigh In On CNA Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its holdings in shares of CNA Financial by 366.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock worth $68,591,000 after buying an additional 1,101,217 shares in the last quarter. AQR Capital Management LLC increased its position in CNA Financial by 97.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock worth $51,760,000 after purchasing an additional 570,172 shares in the last quarter. Rhumbline Advisers lifted its stake in CNA Financial by 570.6% in the 2nd quarter. Rhumbline Advisers now owns 529,862 shares of the insurance provider’s stock valued at $24,411,000 after purchasing an additional 450,843 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CNA Financial by 45.5% during the second quarter. Bank of New York Mellon Corp now owns 1,068,956 shares of the insurance provider’s stock worth $49,247,000 after buying an additional 334,463 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of CNA Financial in the 3rd quarter valued at $7,585,000. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CNA has been the subject of a number of recent research reports. Bank of America boosted their target price on shares of CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, November 8th.

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.