Cna Financial Corp (NYSE:CNA) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.35 per share by the insurance provider on Thursday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, May 10th.
Cna Financial has increased its dividend by an average of 9.1% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Cna Financial has a payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cna Financial to earn $4.05 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 34.6%.
Shares of CNA stock traded down $0.22 during midday trading on Wednesday, reaching $46.13. 113,000 shares of the stock were exchanged, compared to its average volume of 259,481. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 2.24 and a beta of 0.89. Cna Financial has a 1 year low of $41.49 and a 1 year high of $48.99.
Cna Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, April 29th. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.35 billion. Cna Financial had a return on equity of 7.74% and a net margin of 8.39%. During the same quarter in the prior year, the business posted $1.07 EPS. Sell-side analysts forecast that Cna Financial will post 4.1 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Cna Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th.
In related news, EVP Andrew J. Pinkes sold 7,132 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $45.79, for a total value of $326,574.28. Following the transaction, the executive vice president now directly owns 62,137 shares of the company’s stock, valued at approximately $2,845,253.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dino Robusto sold 1,094 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.65, for a total value of $49,941.10. Following the completion of the transaction, the chief executive officer now directly owns 302,384 shares in the company, valued at $13,803,829.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
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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