Fifth Third Bancorp Trims Position in CNA Financial Corporation (NYSE:CNA)

Fifth Third Bancorp lowered its stake in shares of CNA Financial Corporation (NYSE:CNA) by 21.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,408 shares of the insurance provider’s stock after selling 951 shares during the period. Fifth Third Bancorp’s holdings in CNA Financial were worth $173,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in CNA Financial by 41.4% during the fourth quarter. AQR Capital Management LLC now owns 1,939,336 shares of the insurance provider’s stock worth $93,806,000 after purchasing an additional 567,926 shares during the period. First Trust Advisors LP raised its stake in CNA Financial by 20.1% during the fourth quarter. First Trust Advisors LP now owns 1,486,853 shares of the insurance provider’s stock worth $71,919,000 after purchasing an additional 249,346 shares during the period. Bank of New York Mellon Corp raised its stake in CNA Financial by 66.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,177,110 shares of the insurance provider’s stock worth $56,937,000 after purchasing an additional 468,058 shares during the period. CORDA Investment Management LLC. raised its stake in CNA Financial by 1.8% during the fourth quarter. CORDA Investment Management LLC. now owns 661,532 shares of the insurance provider’s stock worth $31,998,000 after purchasing an additional 11,597 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in CNA Financial by 36.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 363,389 shares of the insurance provider’s stock worth $17,577,000 after purchasing an additional 97,180 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Stock Performance

NYSE:CNA opened at $45.07 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.24. The company has a market cap of $12.20 billion, a P/E ratio of 13.74, a P/E/G ratio of 5.80 and a beta of 0.53. CNA Financial Corporation has a fifty-two week low of $44.09 and a fifty-two week high of $52.36. The firm’s 50 day moving average is $47.49 and its two-hundred day moving average is $48.25.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, May 5th. The insurance provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.13). The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CNA Financial had a return on equity of 11.99% and a net margin of 6.19%. During the same period in the prior year, the business earned $1.30 EPS. Analysts expect that CNA Financial Corporation will post 4.64 EPS for the current year.

CNA Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Monday, May 19th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Monday, May 19th. CNA Financial’s dividend payout ratio is presently 56.10%.

Insider Activity

In other news, Chairman Dino Robusto sold 6,250 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $47.61, for a total value of $297,562.50. Following the transaction, the chairman now owns 711,838 shares of the company’s stock, valued at approximately $33,890,607.18. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Steven James sold 5,015 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $48.35, for a total transaction of $242,475.25. Following the completion of the transaction, the executive vice president now directly owns 27,059 shares in the company, valued at approximately $1,308,302.65. This represents a 15.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,765 shares of company stock valued at $1,156,850. Company insiders own 0.30% of the company’s stock.

CNA Financial Company Profile

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.