Langen Mcalenn Weighs in on CNA Financial Corporation’s FY2017 Earnings (CNA)
CNA Financial Corporation (NYSE:CNA) – Langen Mcalenn raised their FY2017 EPS estimates for CNA Financial Corporation in a report released on Tuesday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the insurance provider will post earnings of $3.05 per share for the year, up from their previous forecast of $2.65. Langen Mcalenn also issued estimates for CNA Financial Corporation’s Q1 2018 earnings at $0.77 EPS, Q2 2018 earnings at $0.87 EPS, Q3 2018 earnings at $1.10 EPS and Q4 2018 earnings at $0.76 EPS.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. ValuEngine lowered shares of CNA Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of CNA Financial Corporation in a report on Thursday, September 21st. Finally, Zacks Investment Research raised shares of CNA Financial Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $46.67.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/02/langen-mcalenn-weighs-in-on-cna-financial-corporations-fy2017-earnings-cna.html. CNA Financial Corporation (NYSE:CNA) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.27). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.37 billion. CNA Financial Corporation had a net margin of 9.67% and a return on equity of 7.14%. During the same period last year, the business earned $1.15 earnings per share.
Several large investors have recently modified their holdings of CNA. Robeco Institutional Asset Management B.V. increased its holdings in shares of CNA Financial Corporation by 859.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 702,238 shares of the insurance provider’s stock worth $34,232,000 after buying an additional 629,013 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of CNA Financial Corporation by 4,775.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 227,565 shares of the insurance provider’s stock worth $4,668,000 after buying an additional 222,897 shares during the last quarter. Koch Industries Inc. bought a new position in shares of CNA Financial Corporation in the 2nd quarter worth $203,000. First Trust Advisors LP increased its holdings in shares of CNA Financial Corporation by 26.1% in the 3rd quarter. First Trust Advisors LP now owns 770,306 shares of the insurance provider’s stock worth $38,708,000 after buying an additional 159,401 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of CNA Financial Corporation by 122.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 254,611 shares of the insurance provider’s stock worth $11,246,000 after buying an additional 139,997 shares during the last quarter. 99.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO D Craig Mense sold 23,450 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 130,548 shares of the company’s stock, valued at approximately $6,874,657.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, November 10th. CNA Financial Corporation’s payout ratio is 35.50%.
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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