Zacks Investment Research upgraded shares of CNA Financial Corporation (NYSE:CNA) from a sell rating to a hold rating in a research report released on Wednesday.
According to Zacks, “CNA Financial’s third-quarter 2017 earnings outperformed the Zacks Consensus Estimate but deteriorated year over year on significantly higher catastrophe losses. 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. Also, shares of CNA Financial have underperformed the industry during the third quarter.”
Several other research firms also recently weighed in on CNA. Keefe, Bruyette & Woods restated a hold rating and issued a $55.00 price objective on shares of CNA Financial Corporation in a report on Wednesday. BidaskClub upgraded CNA Financial Corporation from a hold rating to a buy rating in a report on Wednesday, August 9th. Finally, ValuEngine downgraded CNA Financial Corporation from a strong-buy rating to a buy rating in a report on Monday, October 2nd. 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 currently has a consensus rating of Hold and an average price target of $46.67.
CNA Financial Corporation (NYSE CNA) traded up $0.50 during midday trading on Wednesday, reaching $54.98. 214,812 shares of the company’s stock traded hands, compared to its average volume of 219,202. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.23 and a quick ratio of 0.24. The stock has a market capitalization of $14,909.31, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 3.59 and a beta of 1.34. CNA Financial Corporation has a 52 week low of $35.67 and a 52 week high of $55.33.
CNA Financial Corporation (NYSE:CNA) last released its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.27). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.37 billion. CNA Financial Corporation had a net margin of 9.67% and a return on equity of 7.14%. During the same quarter in the previous year, the firm earned $1.15 earnings per share. research analysts anticipate that CNA Financial Corporation will post 3.07 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.18%. CNA Financial Corporation’s dividend payout ratio is presently 35.50%.
In other CNA Financial Corporation news, CFO D Craig Mense sold 23,450 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $52.66, for a total value of $1,234,877.00. Following the completion of the transaction, the chief financial officer now directly owns 130,548 shares in the company, valued at $6,874,657.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC raised its holdings in CNA Financial Corporation by 111.1% in the second quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 1,100 shares in the last quarter. Parallel Advisors LLC raised its holdings in CNA Financial Corporation by 3.6% in the second quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 110 shares in the last quarter. SG Americas Securities LLC raised its holdings in CNA Financial Corporation by 6.1% in the first quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock worth $173,000 after purchasing an additional 224 shares in the last quarter. Koch Industries Inc. bought a new position in CNA Financial Corporation in the second quarter worth about $203,000. Finally, Gotham Asset Management LLC bought a new position in CNA Financial Corporation in the second quarter worth about $221,000. Institutional investors and hedge funds own 99.89% 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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