CNA Financial (NYSE:CNA) Reaches New 12-Month High – Here’s Why

CNA Financial Corporation (NYSE:CNA) shares hit a new 52-week high during trading on Friday . The company traded as high as $52.97 and last traded at $52.7340, with a volume of 20220 shares traded. The stock had previously closed at $51.42.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of CNA Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, CNA Financial presently has an average rating of “Hold”.

CNA Financial Trading Up 2.3%

The firm has a market capitalization of $14.24 billion, a P/E ratio of 11.77, a PEG ratio of 6.89 and a beta of 0.28. The business’s 50 day moving average is $46.02 and its two-hundred day moving average is $46.86. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.27.

CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.47). The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.93 billion. CNA Financial had a net margin of 8.08% and a return on equity of 11.57%. During the same quarter last year, the business earned $1.03 earnings per share. Analysts expect that CNA Financial Corporation will post 4.05 EPS for the current year.

CNA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Monday, May 18th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, May 18th. CNA Financial’s dividend payout ratio is presently 42.95%.

Institutional Investors Weigh In On CNA Financial

Large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL raised its holdings in CNA Financial by 125.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 164,121 shares of the insurance provider’s stock worth $7,625,000 after buying an additional 91,205 shares during the period. Assenagon Asset Management S.A. purchased a new position in CNA Financial during the 4th quarter valued at about $2,632,000. M&T Bank Corp increased its holdings in shares of CNA Financial by 8,100.7% in the 4th quarter. M&T Bank Corp now owns 484,580 shares of the insurance provider’s stock valued at $23,134,000 after purchasing an additional 478,671 shares during the period. Vest Financial LLC acquired a new position in shares of CNA Financial in the 4th quarter valued at about $1,576,000. Finally, UBS Group AG lifted its position in shares of CNA Financial by 25.9% in the fourth quarter. UBS Group AG now owns 867,787 shares of the insurance provider’s stock worth $41,428,000 after purchasing an additional 178,314 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.