Zacks Investment Research Upgrades CNA Financial Corp. (CNA) to Buy
CNA Financial Corp. (NYSE:CNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $40.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 12.01% from the company’s previous close.
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 began coverage on CNA Financial Corp. in a research note on Friday, October 7th. They issued a “market perform” rating and a $39.00 price target for the company.
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Shares of CNA Financial Corp. (NYSE:CNA) traded up 0.25% during midday trading on Tuesday, reaching $35.71. The company’s stock had a trading volume of 65,033 shares. CNA Financial Corp. has a one year low of $27.99 and a one year high of $37.34. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 25.20 and a beta of 1.24. The stock’s 50 day moving average price is $33.86 and its 200 day moving average price is $32.41.
CNA Financial Corp. (NYSE:CNA) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm posted $0.49 earnings per share. Analysts predict that CNA Financial Corp. will post $2.68 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in CNA Financial Corp. by 1.1% in the second quarter. CIBC Asset Management Inc now owns 10,905 shares of the company’s stock valued at $343,000 after buying an additional 114 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in CNA Financial Corp. by 1.6% in the second quarter. Public Employees Retirement System of Ohio now owns 10,994 shares of the company’s stock valued at $345,000 after buying an additional 177 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in CNA Financial Corp. by 2.6% in the third quarter. BNP Paribas Arbitrage SA now owns 9,077 shares of the company’s stock valued at $312,000 after buying an additional 226 shares during the last quarter. Teachers Advisors Inc. boosted its stake in CNA Financial Corp. by 0.9% in the second quarter. Teachers Advisors Inc. now owns 28,080 shares of the company’s stock valued at $882,000 after buying an additional 246 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in CNA Financial Corp. by 2.9% in the second quarter. BlackRock Investment Management LLC now owns 11,649 shares of the company’s stock valued at $366,000 after buying an additional 333 shares during the last quarter. Institutional investors own 99.12% of the company’s stock.
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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