CNA Financial Corporation (CNA) Lifted to “Hold” at Zacks Investment Research
CNA Financial Corporation (NYSE:CNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “CNA Financial’s third-quarter 2017 earnings outperformed the Zacks Consensus Estimate but deteriorated year over year on significantly higher catastrophe losses. 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. Also, shares of CNA Financial have underperformed the industry during the third quarter.”
Several other research analysts have also recently commented on CNA. BidaskClub upgraded CNA Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $55.00 price target on shares of CNA Financial Corporation in a research note on Wednesday. Finally, ValuEngine cut CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. CNA Financial Corporation presently has an average rating of “Hold” and an average target price of $46.67.
CNA Financial Corporation (NYSE:CNA) opened at 54.13 on Wednesday. The company’s 50-day moving average price is $50.20 and its 200-day moving average price is $48.60. The stock has a market cap of $14.67 billion, a P/E ratio of 13.17 and a beta of 1.25. CNA Financial Corporation has a 1-year low of $34.51 and a 1-year high of $54.74.
CNA Financial Corporation (NYSE:CNA) last released its quarterly earnings results on Monday, October 30th. The insurance provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.27). CNA Financial Corporation had a return on equity of 7.18% and a net margin of 9.67%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the firm posted $1.15 EPS. Analysts predict that CNA Financial Corporation will post $2.96 EPS for the current year.
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In related news, CFO D Craig Mense sold 23,450 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $52.66, for a total value of $1,234,877.00. Following the completion of the sale, the chief financial officer now directly owns 130,548 shares of the company’s stock, valued at $6,874,657.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its holdings in CNA Financial Corporation by 111.1% in the second quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,100 shares during the last quarter. Parallel Advisors LLC increased its holdings in CNA Financial Corporation by 3.6% in the second quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock valued at $163,000 after buying an additional 110 shares during the last quarter. SG Americas Securities LLC increased its holdings in CNA Financial Corporation by 6.1% in the first quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock valued at $173,000 after buying an additional 224 shares during the last quarter. Koch Industries Inc. bought a new stake in CNA Financial Corporation in the second quarter valued at about $203,000. Finally, Gotham Asset Management LLC bought a new stake in CNA Financial Corporation in the second quarter valued at about $221,000. 99.89% of the stock is owned by hedge funds and other institutional investors.
About CNA Financial Corporation
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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