Zacks Investment Research lowered shares of CNA Financial Corporation (NYSE:CNA) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Shares of CNA Financial have outperformed the industry year to date. 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. With respect to quarterly results, CNA Financial’s third-quarter 2017 earnings outperformed the Zacks Consensus Estimate but deteriorated year over year on significantly higher catastrophe losses.”
A number of other equities analysts have also recently issued reports on CNA. BidaskClub cut CNA Financial Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $50.00 target price on shares of CNA Financial Corporation in a report on Thursday, August 3rd. Finally, ValuEngine raised CNA Financial Corporation from a buy rating to a strong-buy rating in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $50.25.
CNA Financial Corporation (CNA) opened at $53.61 on Tuesday. CNA Financial Corporation has a fifty-two week low of $37.88 and a fifty-two week 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 $14,825.24, a PE ratio of 17.36, a price-to-earnings-growth ratio of 3.57 and a beta of 1.34.
CNA Financial Corporation (NYSE:CNA) last issued its earnings results on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.27). CNA Financial Corporation had a return on equity of 7.14% and a net margin of 9.67%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company earned $1.15 EPS. equities analysts forecast that CNA Financial Corporation will post 3.07 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. CNA Financial Corporation’s payout ratio is 35.50%.
Several hedge funds have recently modified their holdings of CNA. Robeco Institutional Asset Management B.V. increased its stake 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 valued at $34,232,000 after buying an additional 629,013 shares during the period. Harbour Capital Advisors LLC increased its stake 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 valued at $4,668,000 after buying an additional 222,897 shares during the period. Koch Industries Inc. acquired a new stake in shares of CNA Financial Corporation in the second quarter valued at about $203,000. First Trust Advisors LP increased its stake 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 valued at $38,708,000 after buying an additional 159,401 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of CNA Financial Corporation by 122.1% in the first quarter. Goldman Sachs Group Inc. now owns 254,611 shares of the insurance provider’s stock valued at $11,246,000 after buying an additional 139,997 shares during the period. 99.81% of the stock is owned by institutional investors.
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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