Zacks Investment Research Upgrades CNA Financial Corp. (CNA) to Buy
CNA Financial Corp. (NYSE:CNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $40.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.01% from the stock’s current price.
According to Zacks, “CNA Financial Corporation is an insurance holding company whose primary subsidiaries consist of property/casualty and life insurance companies. CNA’s property/casualty insurance operations are conducted by Continental Casualty Company and The Continental Insurance Company. Life insurance operations are conducted by Continental Assurance Company. “
Separately, Keefe, Bruyette & Woods assumed coverage on CNA Financial Corp. in a research note on Friday, October 7th. They issued a “market perform” rating and a $39.00 price objective for the company.
Shares of CNA Financial Corp. (NYSE:CNA) traded up 0.25% during midday trading on Tuesday, hitting $35.71. The stock had a trading volume of 65,033 shares. The company has a market cap of $9.66 billion, a PE ratio of 25.20 and a beta of 1.24. The company’s 50 day moving average is $33.86 and its 200 day moving average is $32.41. CNA Financial Corp. has a 52-week low of $27.99 and a 52-week high of $37.34.
CNA Financial Corp. (NYSE:CNA) last released its quarterly earnings data on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. CNA Financial Corp. had a return on equity of 4.28% and a net margin of 4.27%. During the same period last year, the business earned $0.49 earnings per share. On average, analysts anticipate that CNA Financial Corp. will post $2.68 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in CNA. Renaissance Technologies LLC raised its position in shares of CNA Financial Corp. by 58.5% in the first quarter. Renaissance Technologies LLC now owns 651,000 shares of the company’s stock worth $20,949,000 after buying an additional 240,300 shares during the last quarter. Carlson Capital L P raised its position in shares of CNA Financial Corp. by 200.8% in the second quarter. Carlson Capital L P now owns 359,336 shares of the company’s stock worth $11,290,000 after buying an additional 239,883 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of CNA Financial Corp. during the second quarter worth approximately $4,586,000. OMERS ADMINISTRATION Corp purchased a new position in shares of CNA Financial Corp. during the first quarter worth approximately $2,993,000. Finally, Goldman Sachs Group Inc. raised its position in shares of CNA Financial Corp. by 119.8% in the first quarter. Goldman Sachs Group Inc. now owns 121,108 shares of the company’s stock worth $3,898,000 after buying an additional 66,005 shares during the last quarter. 99.12% of the stock is owned by institutional investors.
About CNA Financial Corp.
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. The Specialty segment provides an array of professional, financial, and specialty property and casualty products and services.
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