CNA Financial Co. (NYSE:CNA) Short Interest Update

CNA Financial Co. (NYSE:CNA) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,200,000 shares, an increase of 10.1% from the August 31st total of 1,090,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 341,200 shares, the days-to-cover ratio is currently 3.5 days.

CNA Financial Stock Up 0.3 %

Shares of NYSE CNA traded up $0.17 during trading hours on Tuesday, hitting $49.11. The company had a trading volume of 259,227 shares, compared to its average volume of 275,591. The stock has a market capitalization of $13.32 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 3.39 and a beta of 0.65. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.30. CNA Financial has a 1-year low of $37.95 and a 1-year high of $52.36. The firm’s 50 day moving average is $49.71 and its 200-day moving average is $46.52.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, July 29th. The insurance provider reported $1.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.19. CNA Financial had a return on equity of 14.02% and a net margin of 9.27%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $1.13 EPS. On average, analysts expect that CNA Financial will post 4.87 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Monday, August 12th. CNA Financial’s dividend payout ratio is 38.43%.

Insiders Place Their Bets

In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the transaction, the executive vice president now owns 22,917 shares of the company’s stock, valued at approximately $1,159,141.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $49.60, for a total value of $1,297,536.00. Following the completion of the sale, the executive vice president now owns 47,744 shares of the company’s stock, valued at approximately $2,368,102.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Steven James sold 18,547 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $50.58, for a total value of $938,107.26. Following the completion of the sale, the executive vice president now directly owns 22,917 shares of the company’s stock, valued at approximately $1,159,141.86. The disclosure for this sale can be found here. Insiders sold a total of 49,151 shares of company stock valued at $2,449,311 in the last quarter. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CNA Financial

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in CNA Financial by 28.5% during the 1st quarter. GAMMA Investing LLC now owns 1,144 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 254 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in CNA Financial by 17.3% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock worth $95,000 after buying an additional 303 shares during the period. Signaturefd LLC increased its position in CNA Financial by 10.4% during the 2nd quarter. Signaturefd LLC now owns 3,897 shares of the insurance provider’s stock worth $180,000 after buying an additional 366 shares during the period. AE Wealth Management LLC increased its position in CNA Financial by 1.1% during the 2nd quarter. AE Wealth Management LLC now owns 39,256 shares of the insurance provider’s stock worth $1,809,000 after buying an additional 431 shares during the period. Finally, Wakefield Asset Management LLLP increased its position in CNA Financial by 4.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 10,205 shares of the insurance provider’s stock worth $470,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price objective on CNA Financial from $48.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, August 1st.

About CNA Financial

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.