Pallas Capital Advisors LLC Trims Stake in CNA Financial Corporation $CNA

Pallas Capital Advisors LLC lowered its position in shares of CNA Financial Corporation (NYSE:CNA) by 27.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 9,553 shares of the insurance provider’s stock after selling 3,597 shares during the quarter. Pallas Capital Advisors LLC’s holdings in CNA Financial were worth $445,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in CNA Financial in the first quarter valued at approximately $887,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CNA Financial by 37.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,934 shares of the insurance provider’s stock worth $1,419,000 after buying an additional 7,665 shares during the period. SG Americas Securities LLC acquired a new stake in shares of CNA Financial during the first quarter worth about $470,000. Nisa Investment Advisors LLC lifted its position in CNA Financial by 57.4% in the first quarter. Nisa Investment Advisors LLC now owns 38,120 shares of the insurance provider’s stock valued at $1,936,000 after purchasing an additional 13,900 shares during the period. Finally, Vanguard Group Inc. lifted its position in CNA Financial by 2.0% in the first quarter. Vanguard Group Inc. now owns 556,695 shares of the insurance provider’s stock valued at $28,275,000 after purchasing an additional 11,019 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

CNA Financial Price Performance

CNA stock opened at $45.70 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $46.71 and a 200-day moving average of $47.23. CNA Financial Corporation has a 12-month low of $43.29 and a 12-month high of $51.42. The company has a market cap of $12.37 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 4.07 and a beta of 0.54.

CNA Financial (NYSE:CNA) last released its earnings results on Monday, August 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $0.94 by $0.29. CNA Financial had a net margin of 5.99% and a return on equity of 11.85%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $1.19 EPS. As a group, equities analysts expect that CNA Financial Corporation will post 4.64 EPS for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 18th. CNA Financial’s dividend payout ratio is currently 57.32%.

Insider Buying and Selling

In related news, CFO Scott R. Lindquist sold 8,380 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $48.98, for a total transaction of $410,452.40. Following the completion of the sale, the chief financial officer directly owned 81,487 shares of the company’s stock, valued at $3,991,233.26. This represents a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Dino Robusto sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $49.00, for a total transaction of $306,250.00. Following the completion of the transaction, the chairman owned 686,838 shares in the company, valued at approximately $33,655,062. This represents a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,630 shares of company stock valued at $1,204,802. Company insiders own 0.30% of the company’s stock.

CNA Financial 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.