CNA Financial Corporation (CNA) Rating Lowered to Hold at BidaskClub
CNA Financial Corporation (NYSE:CNA) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
Several other brokerages have also issued reports on CNA. Zacks Investment Research lowered shares of CNA Financial Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $50.00 price target on shares of CNA Financial Corporation in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG lowered shares of CNA Financial Corporation from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $46.00 in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.00.
Shares of CNA Financial Corporation (NYSE:CNA) traded down 0.58% during trading on Friday, hitting $49.70. 26,907 shares of the stock traded hands. CNA Financial Corporation has a 1-year low of $32.19 and a 1-year high of $53.67. The firm has a 50-day moving average of $50.81 and a 200-day moving average of $46.41. The firm has a market capitalization of $13.47 billion, a price-to-earnings ratio of 12.10 and a beta of 1.23.
CNA Financial Corporation (NYSE:CNA) last issued its quarterly earnings results on Monday, July 31st. The insurance provider reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.13. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.35 billion. CNA Financial Corporation had a net margin of 11.72% and a return on equity of 8.40%. During the same period last year, the business earned $0.77 EPS. On average, equities analysts forecast that CNA Financial Corporation will post $3.41 earnings per share for the current year.
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In related news, CFO D Craig Mense sold 23,450 shares of the 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management raised its stake in CNA Financial Corporation by 5.3% in the second quarter. LSV Asset Management now owns 1,424,022 shares of the insurance provider’s stock worth $69,421,000 after buying an additional 71,520 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in CNA Financial Corporation by 859.0% in the second 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 in the last quarter. Bank of America Corp DE raised its stake in CNA Financial Corporation by 0.5% in the first quarter. Bank of America Corp DE now owns 693,798 shares of the insurance provider’s stock worth $30,645,000 after buying an additional 3,408 shares in the last quarter. First Trust Advisors LP raised its stake in CNA Financial Corporation by 5.1% in the second quarter. First Trust Advisors LP now owns 610,905 shares of the insurance provider’s stock worth $29,782,000 after buying an additional 29,481 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in CNA Financial Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 550,006 shares of the insurance provider’s stock worth $24,294,000 after buying an additional 20,462 shares in the last quarter. Institutional investors and hedge funds own 99.78% of the company’s stock.
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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