FY2017 EPS Estimates for CNA Financial Corporation Lifted by Analyst (CNA)
CNA Financial Corporation (NYSE:CNA) – Equities research analysts at William Blair upped their FY2017 EPS estimates for shares of CNA Financial Corporation in a note issued to investors on Monday. William Blair analyst A. Klauber now forecasts that the insurance provider will earn $3.08 per share for the year, up from their previous estimate of $2.66. William Blair also issued estimates for CNA Financial Corporation’s Q3 2018 earnings at $0.81 EPS, FY2018 earnings at $2.83 EPS and FY2019 earnings at $2.65 EPS.
CNA Financial Corporation (NYSE:CNA) last posted its earnings results on Monday, October 30th. The insurance provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.27). CNA Financial Corporation had a net margin of 9.67% and a return on equity of 7.14%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share.
A number of other research firms have also recently issued reports on CNA. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 target price on shares of CNA Financial Corporation in a research note on Thursday, August 3rd. BidaskClub cut shares of CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. ValuEngine upgraded shares of CNA Financial Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of CNA Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $46.67.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, November 10th. CNA Financial Corporation’s dividend payout ratio (DPR) is presently 35.50%.
In related news, CFO D Craig Mense sold 23,450 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $52.66, for a total value of $1,234,877.00. Following the completion of the transaction, the chief financial officer now owns 130,548 shares in the company, valued at approximately $6,874,657.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in CNA Financial Corporation by 111.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 1,100 shares during the last quarter. Parallel Advisors LLC raised its position in shares of CNA Financial Corporation by 3.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock valued at $163,000 after acquiring an additional 110 shares during the last quarter. SG Americas Securities LLC raised its position in shares of CNA Financial Corporation by 6.1% during the 1st quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock valued at $173,000 after acquiring an additional 224 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of CNA Financial Corporation during the 2nd quarter valued at $221,000. Finally, Private Advisor Group LLC bought a new stake in shares of CNA Financial Corporation during the 2nd quarter valued at $244,000. Hedge funds and other institutional investors own 99.89% of the company’s stock.
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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