Cna Financial Corp (NYSE:CNA) – Research analysts at William Blair raised their Q3 2019 earnings estimates for Cna Financial in a report released on Monday, April 29th, Zacks Investment Research reports. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings of $0.98 per share for the quarter, up from their previous forecast of $0.97. William Blair also issued estimates for Cna Financial’s FY2019 earnings at $4.00 EPS.
Separately, Zacks Investment Research raised shares of Cna Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th.
Cna Financial (NYSE:CNA) last issued its quarterly earnings results on Monday, April 29th. The insurance provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Cna Financial had a net margin of 8.39% and a return on equity of 7.74%. During the same quarter in the prior year, the firm posted $1.07 earnings per share.
Several hedge funds have recently added to or reduced their stakes in CNA. Meeder Asset Management Inc. acquired a new stake in shares of Cna Financial in the 4th quarter worth about $26,000. First Mercantile Trust Co. raised its holdings in shares of Cna Financial by 41.0% in the 4th quarter. First Mercantile Trust Co. now owns 1,960 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 570 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Cna Financial by 55.3% in the 1st quarter. Assetmark Inc. now owns 2,764 shares of the insurance provider’s stock worth $120,000 after acquiring an additional 984 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of Cna Financial in the 1st quarter worth about $156,000. Finally, Hilltop Holdings Inc. raised its holdings in shares of Cna Financial by 25.2% in the 4th quarter. Hilltop Holdings Inc. now owns 5,562 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 1,120 shares during the last quarter. 99.60% of the stock is currently owned by institutional investors.
In other news, CEO Dino Robusto sold 1,094 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.65, for a total transaction of $49,941.10. Following the transaction, the chief executive officer now owns 302,384 shares of the company’s stock, valued at approximately $13,803,829.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Pinkes sold 7,132 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $45.79, for a total transaction of $326,574.28. Following the transaction, the executive vice president now directly owns 62,137 shares in the company, valued at approximately $2,845,253.23. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 13th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.04%. Cna Financial’s dividend payout ratio (DPR) is presently 45.16%.
About Cna Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It 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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