Zacks Investment Research cut shares of CNA Financial Corporation (NYSE:CNA) from a buy rating to a hold rating in a research report report published on Monday.
According to Zacks, “Shares of CNA Financial have outperformed the industry year to date. Moreover, the company witnessed its 2017 and 2018 estimates moving north over the last 30 days. Being one of the versatile property and casualty (P&C) insurers, CNA Financial has been maintaining a good track record of combined ratio over the past few years, thereby leading to underwriting profitability. Moreover, with the rising interest rate environment, the company has been displaying improving investment results over a considerable period of time. The company also remains committed in enhancing shareholders value via effective capital deployment. Its long-term care business continues to perform strongly. However, exposure to catastrophe losses poses an inherent risk to the P&C business, thus rendering volatility to the company’s earnings.”
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of CNA Financial Corporation from a strong-buy rating to a buy rating in a research report on Monday, October 2nd. BidaskClub upgraded shares of CNA Financial Corporation from a hold rating to a buy rating in a research report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $55.00 price target on shares of CNA Financial Corporation in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. CNA Financial Corporation presently has an average rating of Hold and an average target price of $50.25.
Shares of CNA Financial Corporation (NYSE CNA) traded down $0.04 on Monday, reaching $53.57. 245,500 shares of the company were exchanged, compared to its average volume of 198,367. CNA Financial Corporation has a 1-year low of $37.88 and a 1-year high of $55.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a market capitalization of $14,580.00, a P/E ratio of 17.02, a P/E/G ratio of 3.50 and a beta of 1.34.
CNA Financial Corporation (NYSE:CNA) last issued its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.27). CNA Financial Corporation had a net margin of 9.67% and a return on equity of 7.14%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. research analysts anticipate that CNA Financial Corporation will post 3.07 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, November 10th. CNA Financial Corporation’s payout ratio is currently 35.61%.
Several institutional investors have recently modified their holdings of CNA. Robeco Institutional Asset Management B.V. grew its holdings in shares of CNA Financial Corporation by 859.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 702,238 shares of the insurance provider’s stock worth $34,232,000 after purchasing an additional 629,013 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of CNA Financial Corporation by 4,775.0% in the second quarter. Harbour Capital Advisors LLC now owns 227,565 shares of the insurance provider’s stock worth $4,668,000 after purchasing an additional 222,897 shares during the last quarter. Koch Industries Inc. bought a new position in shares of CNA Financial Corporation in the second quarter worth approximately $203,000. First Trust Advisors LP grew its holdings in shares of CNA Financial Corporation by 26.1% in the third quarter. First Trust Advisors LP now owns 770,306 shares of the insurance provider’s stock worth $38,708,000 after purchasing an additional 159,401 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of CNA Financial Corporation in the second quarter worth approximately $5,760,000. Hedge funds and other institutional investors own 99.84% of the company’s stock.
CNA Financial Corporation Company Profile
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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