CNA Financial (NYSE:CNA) Reaches New 52-Week Low Following Weak Earnings

Shares of CNA Financial Co. (NYSE:CNAGet Rating) hit a new 52-week low during trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $40.79 and last traded at $40.79, with a volume of 151 shares trading hands. The stock had previously closed at $42.42.

The insurance provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.13). CNA Financial had a return on equity of 9.47% and a net margin of 10.09%. During the same quarter in the prior year, the firm earned $1.25 EPS.

CNA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 12th. This represents a $1.60 annualized dividend and a dividend yield of 4.01%. CNA Financial’s dividend payout ratio is currently 36.20%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CNA Financial from a “buy” rating to a “hold” rating in a research note on Sunday.

Insider Activity at CNA Financial

In related news, EVP Daniel Paul Franzetti sold 9,486 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $44.79, for a total value of $424,877.94. Following the completion of the transaction, the executive vice president now directly owns 41,830 shares of the company’s stock, valued at $1,873,565.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other CNA Financial news, Director Michael A. Bless purchased 2,500 shares of the business’s stock in a transaction on Tuesday, May 10th. The stock was acquired at an average price of $44.18 per share, with a total value of $110,450.00. Following the acquisition, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $110,450. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Daniel Paul Franzetti sold 9,486 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $44.79, for a total value of $424,877.94. Following the sale, the executive vice president now directly owns 41,830 shares of the company’s stock, valued at approximately $1,873,565.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On CNA Financial

Several hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its holdings in CNA Financial by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 11,167 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 231 shares during the last quarter. Parallel Advisors LLC lifted its holdings in CNA Financial by 7.7% during the 2nd quarter. Parallel Advisors LLC now owns 4,091 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 292 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of CNA Financial by 103.5% during the first quarter. Signaturefd LLC now owns 578 shares of the insurance provider’s stock worth $28,000 after buying an additional 294 shares in the last quarter. Richard P Slaughter Associates Inc lifted its holdings in shares of CNA Financial by 0.5% during the second quarter. Richard P Slaughter Associates Inc now owns 56,211 shares of the insurance provider’s stock worth $2,523,000 after buying an additional 299 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of CNA Financial by 258.1% during the first quarter. Geneos Wealth Management Inc. now owns 555 shares of the insurance provider’s stock worth $26,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

CNA Financial Stock Down 2.9 %

The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 2.12 and a beta of 0.66. The stock has a fifty day moving average price of $43.97 and a two-hundred day moving average price of $45.74.

CNA Financial Company Profile

(Get Rating)

CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. 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 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 standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.

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