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 issued on Tuesday.

According to Zacks, “Shares of CNA Financial have outperformed the industry in a year's time. However, the company did not witness any earnings momentum for its 2017 and 2018 estimates in the last 60 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.”

CNA has been the topic of several other reports. ValuEngine downgraded shares of Cna Financial from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $55.00 price target on shares of Cna Financial in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Cna Financial has a consensus rating of “Hold” and an average target price of $54.00.

Cna Financial (NYSE:CNA) traded down $0.61 during mid-day trading on Tuesday, hitting $52.44. 134,593 shares of the company’s stock were exchanged, compared to its average volume of 195,595. Cna Financial has a one year low of $39.96 and a one year high of $55.62. The company has a market cap of $14,290.00, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 3.46 and a beta of 1.32. 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 announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.27). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.37 billion. Cna Financial had a return on equity of 7.14% and a net margin of 9.67%. During the same period in the prior year, the firm earned $1.15 EPS. sell-side analysts anticipate that Cna Financial will post 3.07 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Sei Investments Co. lifted its stake in Cna Financial by 49.5% in the second quarter. Sei Investments Co. now owns 7,471 shares of the insurance provider’s stock valued at $364,000 after acquiring an additional 2,475 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Cna Financial by 4.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 275,451 shares of the insurance provider’s stock valued at $13,429,000 after acquiring an additional 11,258 shares during the last quarter. Rhumbline Advisers lifted its stake in Cna Financial by 1.5% in the second quarter. Rhumbline Advisers now owns 39,762 shares of the insurance provider’s stock valued at $1,938,000 after acquiring an additional 606 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Cna Financial by 25.8% in the second quarter. Advisors Asset Management Inc. now owns 8,958 shares of the insurance provider’s stock valued at $437,000 after acquiring an additional 1,836 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Cna Financial by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 316,940 shares of the insurance provider’s stock valued at $15,450,000 after acquiring an additional 8,840 shares during the last quarter. Institutional investors and hedge funds 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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