CNA Financial (CNA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of CNA Financial (NYSE:CNA) from a hold rating to a strong-buy rating in a research note published on Tuesday morning. They currently have $61.00 price objective on the insurance provider’s stock.
According to Zacks, “Shares of CNA Financial have outperformed the industry year to date. Moreover, the company witnessed its 2017 and 2018 estimates moving north over the last 30 days. 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.”
A number of other analysts have also recently commented on the company. ValuEngine upgraded CNA Financial from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods restated a hold rating and issued a $55.00 price objective on shares of CNA Financial in a research report on Wednesday, November 1st. Finally, BidaskClub cut CNA Financial from a buy rating to a hold rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $50.25.
Shares of CNA Financial (CNA) opened at $54.38 on Tuesday. The company has a market capitalization of $14,643.55, a P/E ratio of 17.14, a PEG ratio of 3.52 and a beta of 1.34. CNA Financial has a 12-month low of $37.88 and a 12-month high of $55.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.23 and a quick ratio of 0.23.
CNA Financial (NYSE:CNA) last posted its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.27). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.37 billion. CNA Financial had a net margin of 9.67% and a return on equity of 7.14%. During the same quarter last year, the firm earned $1.15 earnings per share. sell-side analysts anticipate that CNA Financial will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, November 10th. CNA Financial’s payout ratio is 35.50%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in shares of CNA Financial by 111.1% during the second 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 in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of CNA Financial by 87.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,774 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 1,294 shares in the last quarter. Parallel Advisors LLC increased its position in shares of CNA Financial by 3.6% during the second quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 110 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of CNA Financial during the second quarter worth approximately $203,000. Finally, Magnetar Financial LLC purchased a new stake in shares of CNA Financial during the third quarter worth approximately $204,000. Hedge funds and other institutional investors own 99.69% of the company’s stock.
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About CNA Financial
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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