CNA Financial Corporation to Issue Quarterly Dividend of $0.48 (NYSE:CNA)
by Scott Moore · The Cerbat GemCNA Financial Corporation (NYSE:CNA – Get Free Report) declared a quarterly dividend on Monday, May 4th. Investors of record on Monday, May 18th will be paid a dividend of 0.48 per share by the insurance provider on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, May 18th.
CNA Financial has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 9 consecutive years. CNA Financial has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect CNA Financial to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 36.8%.
CNA Financial Stock Down 8.0%
Shares of CNA Financial stock traded down $3.86 during trading on Monday, hitting $44.18. The company’s stock had a trading volume of 1,481,986 shares, compared to its average volume of 450,015. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.28 and a current ratio of 0.28. The company has a fifty day simple moving average of $47.23 and a two-hundred day simple moving average of $46.88. The company has a market capitalization of $11.93 billion, a PE ratio of 9.42, a P/E/G ratio of 6.92 and a beta of 0.35. CNA Financial has a 52 week low of $43.09 and a 52 week high of $50.72.
CNA Financial (NYSE:CNA – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.47). The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.93 billion. CNA Financial had a return on equity of 12.23% and a net margin of 8.53%.During the same quarter in the previous year, the business earned $1.03 earnings per share. Equities research analysts predict that CNA Financial will post 4.63 earnings per share for the current year.
Insider Activity at CNA Financial
In other news, SVP Jeffrey John Neuenschwander sold 3,287 shares of CNA Financial stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $45.97, for a total value of $151,103.39. Following the completion of the sale, the senior vice president directly owned 7,277 shares in the company, valued at $334,523.69. The trade was a 31.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is owned by corporate insiders.
Institutional Trading of CNA Financial
A number of large investors have recently made changes to their positions in CNA. Millennium Management LLC grew its stake in shares of CNA Financial by 409.1% in the third quarter. Millennium Management LLC now owns 604,963 shares of the insurance provider’s stock worth $28,107,000 after acquiring an additional 486,127 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of CNA Financial by 1,509,521.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 483,079 shares of the insurance provider’s stock worth $23,062,000 after acquiring an additional 483,047 shares during the period. M&T Bank Corp boosted its holdings in shares of CNA Financial by 8,100.7% in the fourth quarter. M&T Bank Corp now owns 484,580 shares of the insurance provider’s stock worth $23,134,000 after buying an additional 478,671 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of CNA Financial by 31.8% in the fourth quarter. First Trust Advisors LP now owns 1,560,644 shares of the insurance provider’s stock worth $74,505,000 after buying an additional 376,752 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of CNA Financial by 14.6% in the fourth quarter. AQR Capital Management LLC now owns 2,784,682 shares of the insurance provider’s stock worth $132,941,000 after buying an additional 354,076 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.
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.