CNA Financial Co. (NYSE:CNA) Raises Dividend to $0.40 Per Share

CNA Financial Co. (NYSE:CNAGet Rating) declared a quarterly dividend on Monday, May 2nd, Zacks reports. Shareholders of record on Monday, May 16th will be paid a dividend of 0.40 per share by the insurance provider on Thursday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, May 13th. This is an increase from CNA Financial’s previous quarterly dividend of $0.38.

CNA Financial has decreased its dividend payment by an average of 11.7% annually over the last three years and has raised its dividend every year for the last 3 years. CNA Financial has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNA Financial to earn $4.57 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 35.0%.

Shares of NYSE CNA opened at $44.88 on Tuesday. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.16 and a beta of 0.75. CNA Financial has a one year low of $41.44 and a one year high of $50.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s fifty day moving average price is $47.38 and its two-hundred day moving average price is $46.04.

CNA Financial (NYSE:CNAGet Rating) last released its earnings results on Monday, May 2nd. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.01). CNA Financial had a return on equity of 8.81% and a net margin of 10.09%. During the same period last year, the business earned $0.96 EPS. On average, equities analysts anticipate that CNA Financial will post 4.4 earnings per share for the current fiscal year.

Several research firms have commented on CNA. William Blair reiterated a “market perform” rating on shares of CNA Financial in a research report on Monday, February 7th. Zacks Investment Research upgraded CNA Financial from a “sell” rating to a “hold” rating and set a $51.00 price objective for the company in a research report on Monday, April 11th. Finally, StockNews.com assumed coverage on CNA Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its stake in CNA Financial by 0.7% during the fourth quarter. State Street Corp now owns 357,497 shares of the insurance provider’s stock worth $15,758,000 after purchasing an additional 2,465 shares during the period. Geode Capital Management LLC grew its stake in CNA Financial by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 323,517 shares of the insurance provider’s stock worth $14,260,000 after purchasing an additional 18,047 shares during the period. Norges Bank acquired a new stake in CNA Financial during the fourth quarter worth approximately $12,403,000. Charles Schwab Investment Management Inc. grew its stake in CNA Financial by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 264,005 shares of the insurance provider’s stock worth $11,638,000 after purchasing an additional 8,620 shares during the period. Finally, Morgan Stanley grew its stake in CNA Financial by 11.6% during the third quarter. Morgan Stanley now owns 225,394 shares of the insurance provider’s stock worth $9,458,000 after purchasing an additional 23,365 shares during the period. Institutional investors own 99.04% of the company’s stock.

About CNA Financial (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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Dividend History for CNA Financial (NYSE:CNA)

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