CNA Financial Corp. (CNA) Raised to “Buy” at Zacks Investment Research
CNA Financial Corp. (NYSE:CNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $40.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.01% from the stock’s current price.
According to Zacks, “CNA Financial Corporation is an insurance holding company whose primary subsidiaries consist of property/casualty and life insurance companies. CNA’s property/casualty insurance operations are conducted by Continental Casualty Company and The Continental Insurance Company. Life insurance operations are conducted by Continental Assurance Company. “
Separately, Keefe, Bruyette & Woods assumed coverage on CNA Financial Corp. in a research note on Friday, October 7th. They issued a “market perform” rating and a $39.00 target price on the stock.
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CNA Financial Corp. (NYSE:CNA) traded up 0.25% during trading on Tuesday, hitting $35.71. The stock had a trading volume of 65,033 shares. The stock’s 50 day moving average price is $33.86 and its 200 day moving average price is $32.41. The firm has a market cap of $9.66 billion, a P/E ratio of 25.20 and a beta of 1.24. CNA Financial Corp. has a 12-month low of $27.99 and a 12-month high of $37.34.
CNA Financial Corp. (NYSE:CNA) last posted its earnings results on Monday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. CNA Financial Corp. had a return on equity of 4.28% and a net margin of 4.27%. During the same period last year, the company posted $0.49 EPS. On average, analysts anticipate that CNA Financial Corp. will post $2.68 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Societe Generale acquired a new position in shares of CNA Financial Corp. during the second quarter worth $111,000. Quantbot Technologies LP acquired a new position in shares of CNA Financial Corp. during the second quarter worth $171,000. Ameriprise Financial Inc. acquired a new position in shares of CNA Financial Corp. during the second quarter worth $227,000. Cubist Systematic Strategies LLC acquired a new position in shares of CNA Financial Corp. during the second quarter worth $262,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of CNA Financial Corp. by 2.6% in the third quarter. BNP Paribas Arbitrage SA now owns 9,077 shares of the company’s stock worth $312,000 after buying an additional 226 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors.
CNA Financial Corp. 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. The Specialty segment provides an array of professional, financial, and specialty property and casualty products and services.
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