Zacks Investment Research Lowers CNA Financial (CNA) to Hold

CNA Financial (NYSE:CNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, November 20th.

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.”

Several other equities analysts also recently issued reports on CNA. BidaskClub downgraded CNA Financial from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price objective on shares of CNA Financial in a research report on Thursday, August 3rd. Finally, ValuEngine upgraded CNA Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.00.

Shares of CNA Financial (NYSE CNA) traded down $0.02 during trading on Monday, reaching $53.90. The company had a trading volume of 88,277 shares, compared to its average volume of 196,117. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.23 and a current ratio of 0.23. CNA Financial has a 1 year low of $39.29 and a 1 year high of $55.62. The company has a market capitalization of $14,752.02, a price-to-earnings ratio of 17.27, a P/E/G ratio of 3.55 and a beta of 1.32.

CNA Financial (NYSE:CNA) last issued its earnings results 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 company had revenue of $2.42 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.15 earnings per share. equities analysts anticipate that CNA Financial will post 3.07 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC increased its holdings in shares of CNA Financial 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 in the last quarter. DekaBank Deutsche Girozentrale raised its stake in CNA Financial by 87.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,774 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 1,294 shares during the period. Parallel Advisors LLC raised its stake in CNA Financial 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 purchasing an additional 110 shares during the period. Koch Industries Inc. acquired a new stake in CNA Financial during the 2nd quarter valued at $203,000. Finally, Magnetar Financial LLC acquired a new stake in CNA Financial during the 3rd quarter valued at $204,000. 99.69% of the stock is currently owned by institutional investors.

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CNA Financial 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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