Cna Financial Corp (NYSE:CNA) – Stock analysts at Langen Mcalenn cut their FY2018 earnings estimates for Cna Financial in a research note issued to investors on Tuesday, November 6th. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings of $4.15 per share for the year, down from their prior estimate of $4.20. Langen Mcalenn also issued estimates for Cna Financial’s Q4 2018 earnings at $0.93 EPS and FY2019 earnings at $4.55 EPS.
CNA has been the topic of a number of other research reports. Zacks Investment Research raised shares of Cna Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. ValuEngine lowered shares of Cna Financial from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd.
Cna Financial (NYSE:CNA) last released its quarterly earnings results on Monday, November 5th. The insurance provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.10. Cna Financial had a net margin of 11.00% and a return on equity of 9.91%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $0.58 earnings per share.
Several large investors have recently added to or reduced their stakes in CNA. Millennium Management LLC raised its position in shares of Cna Financial by 1,475.5% in the second quarter. Millennium Management LLC now owns 414,898 shares of the insurance provider’s stock valued at $18,953,000 after purchasing an additional 388,564 shares during the period. Gradient Investments LLC bought a new position in Cna Financial during the third quarter worth $9,395,000. Allianz Asset Management GmbH increased its position in Cna Financial by 43.9% during the first quarter. Allianz Asset Management GmbH now owns 657,337 shares of the insurance provider’s stock worth $32,439,000 after acquiring an additional 200,582 shares during the period. Donald Smith & CO. Inc. increased its position in Cna Financial by 10.6% during the third quarter. Donald Smith & CO. Inc. now owns 2,072,389 shares of the insurance provider’s stock worth $94,605,000 after acquiring an additional 198,819 shares during the period. Finally, Renaissance Technologies LLC increased its position in Cna Financial by 43.5% during the second quarter. Renaissance Technologies LLC now owns 640,200 shares of the insurance provider’s stock worth $29,244,000 after acquiring an additional 194,100 shares during the period. 99.52% of the stock is currently owned by institutional investors.
In other news, EVP Larry A. Haefner sold 11,358 shares of Cna Financial stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $47.73, for a total value of $542,117.34. Following the transaction, the executive vice president now owns 58,007 shares of the company’s stock, valued at $2,768,674.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 5th. Stockholders of record on Monday, November 19th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, November 16th. Cna Financial’s dividend payout ratio is 41.42%.
Cna Financial Company Profile
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's property insurance products include property, marine, boiler, and machinery coverages; and casualty insurance products comprise workers compensation, general and product liability, commercial auto, and umbrella coverages.
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