Zacks Investment Research downgraded shares of CNA Financial Corporation (NYSE:CNA) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “CNA Financial has been suffering significant catastrophe losses, which pose an inherent risk to the P&C business, inducing volatility in underwriting results. Also, declining investment income and weak operating income remain concerns. However, shares of CNA Financial have outperformed the industry year to date. While the current year estimates remained constant over the last 60 days, the 2018 estimates moved south over the same time frame. The company is one of the versatile property and casualty (P&C) insurers displaying a continued improvement in the combined ratio of its P&C business, leading to underwriting profitability. The company also remains committed in enhancing shareholders value via effective capital deployment. “

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of CNA Financial Corporation from a strong-buy rating to a buy rating in a report on Monday. BidaskClub raised shares of CNA Financial Corporation from a hold rating to a buy rating in a report on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $50.00 price target on shares of CNA Financial Corporation in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. CNA Financial Corporation currently has an average rating of Hold and an average price target of $45.00.

Shares of CNA Financial Corporation (NYSE CNA) traded down 0.30% during midday trading on Tuesday, hitting $50.60. 48,326 shares of the stock were exchanged. The firm has a 50-day moving average price of $49.50 and a 200-day moving average price of $47.65. CNA Financial Corporation has a 12-month low of $34.20 and a 12-month high of $53.67. The company has a market cap of $13.71 billion, a PE ratio of 12.31 and a beta of 1.25.

CNA Financial Corporation (NYSE:CNA) last posted its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. CNA Financial Corporation had a net margin of 11.72% and a return on equity of 8.40%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the business posted $0.77 EPS. On average, equities analysts predict that CNA Financial Corporation will post $3.15 EPS for the current year.

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In related news, CFO D Craig Mense sold 23,450 shares of CNA Financial Corporation stock in a transaction dated 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 sale, the chief financial officer now directly owns 130,548 shares in the company, valued at approximately $6,874,657.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. LSV Asset Management lifted its position in CNA Financial Corporation by 5.3% in the 2nd quarter. LSV Asset Management now owns 1,424,022 shares of the insurance provider’s stock valued at $69,421,000 after purchasing an additional 71,520 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in 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 valued at $34,232,000 after purchasing an additional 629,013 shares during the last quarter. Bank of America Corp DE lifted its position in CNA Financial Corporation by 0.5% in the 1st quarter. Bank of America Corp DE now owns 693,798 shares of the insurance provider’s stock valued at $30,645,000 after purchasing an additional 3,408 shares during the last quarter. First Trust Advisors LP lifted its position in CNA Financial Corporation by 5.1% in the 2nd quarter. First Trust Advisors LP now owns 610,905 shares of the insurance provider’s stock valued at $29,782,000 after purchasing an additional 29,481 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in CNA Financial Corporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 550,006 shares of the insurance provider’s stock valued at $24,294,000 after purchasing an additional 20,462 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

CNA Financial Corporation 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. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.

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