CNA Financial (NYSE:CNA) Rating Lowered to Hold at Zacks Investment Research

CNA Financial (NYSE:CNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, November 14th.

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.”

CNA has been the topic of several other research reports. BidaskClub raised shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 target price on shares of CNA Financial in a research note on Thursday, August 3rd. Finally, ValuEngine cut shares of CNA Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.00.

CNA Financial (NYSE CNA) traded up $0.01 during mid-day trading on Tuesday, hitting $54.39. 173,429 shares of the company were exchanged, compared to its average volume of 184,948. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.23 and a current ratio of 0.23. CNA Financial has a 1-year low of $37.88 and a 1-year high of $55.62. The firm has a market cap of $14,749.32, a PE ratio of 17.27, a PEG ratio of 3.55 and a beta of 1.32.

CNA Financial (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 Zacks’ consensus estimate of $0.85 by ($0.27). CNA Financial 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 last year, the business earned $1.15 EPS. analysts expect that CNA Financial will post 3.07 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its position in shares of CNA Financial by 77.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 264,193 shares of the insurance provider’s stock valued at $11,670,000 after purchasing an additional 115,550 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of CNA Financial by 15.4% in the second quarter. Victory Capital Management Inc. now owns 172,232 shares of the insurance provider’s stock worth $8,396,000 after buying an additional 23,040 shares during the period. Arrow Investment Advisors LLC acquired a new position in shares of CNA Financial in the second quarter worth about $722,000. LSV Asset Management boosted its holdings in shares of CNA Financial by 5.3% in the second quarter. LSV Asset Management now owns 1,424,022 shares of the insurance provider’s stock worth $69,421,000 after buying an additional 71,520 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of CNA Financial by 3.9% in the first quarter. Vanguard Group Inc. now owns 550,006 shares of the insurance provider’s stock worth $24,294,000 after buying an additional 20,462 shares during the period. Institutional investors own 99.69% of the company’s stock.

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CNA Financial 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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