Zacks Research Comments on CNA Financial FY2024 Earnings

CNA Financial Co. (NYSE:CNA) – Zacks Research issued their FY2024 earnings per share estimates for CNA Financial in a report released on Monday, November 18th. Zacks Research analyst T. De expects that the insurance provider will post earnings of $4.65 per share for the year. The consensus estimate for CNA Financial’s current full-year earnings is $4.65 per share.

CNA Financial (NYSE:CNA) last released its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same quarter in the prior year, the firm earned $1.06 earnings per share.

Several other research analysts have also recently weighed in on the company. StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods boosted their price objective on CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, Bank of America upped their target price on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday, October 10th.

CNA Financial Stock Performance

CNA opened at $48.85 on Thursday. CNA Financial has a twelve month low of $40.75 and a twelve month high of $52.36. The firm has a market capitalization of $13.23 billion, a PE ratio of 10.18, a PEG ratio of 6.31 and a beta of 0.65. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $48.93 and its 200 day moving average price is $47.67.

Hedge Funds Weigh In On CNA Financial

Several large investors have recently made changes to their positions in CNA. True Wealth Design LLC acquired a new position in CNA Financial during the 3rd quarter worth about $36,000. Fairscale Capital LLC purchased a new stake in CNA Financial during the second quarter worth about $55,000. GAMMA Investing LLC lifted its position in shares of CNA Financial by 36.9% during the second quarter. GAMMA Investing LLC now owns 1,566 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 422 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of CNA Financial by 39.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,756 shares of the insurance provider’s stock valued at $80,000 after purchasing an additional 494 shares during the period. Finally, Covestor Ltd grew its holdings in shares of CNA Financial by 82.0% in the first quarter. Covestor Ltd now owns 1,971 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 888 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mark Steven James sold 18,547 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the transaction, the executive vice president now directly owns 22,917 shares in the company, valued at approximately $1,159,141.86. This represents a 44.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Douglas Worman sold 22,973 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the sale, the executive vice president now owns 133,777 shares in the company, valued at approximately $6,521,628.75. This trade represents a 14.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

CNA Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, November 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.60%. CNA Financial’s dividend payout ratio is currently 36.67%.

CNA Financial Company 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.