Zacks Investment Research Downgrades CNA Financial (NYSE:CNA) to Hold

CNA Financial (NYSE:CNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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.”

CNA has been the topic of several other research reports. BidaskClub upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. ValuEngine lowered shares of CNA Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 price target on shares of CNA Financial in a research report on Thursday, September 21st. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. CNA Financial has a consensus rating of “Buy” and an average price target of $54.00.

Shares of CNA Financial (NYSE CNA) traded down $0.23 during trading hours on Monday, hitting $53.67. 106,809 shares of the company’s stock were exchanged, compared to its average volume of 195,739. CNA Financial has a 1 year low of $39.70 and a 1 year high of $55.62. The firm has a market cap of $14,550.00, a price-to-earnings ratio of 17.12, a PEG ratio of 3.52 and a beta of 1.32. 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 (NYSE:CNA) last announced its earnings results on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.27). The business had revenue of $2.42 billion for 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 quarter in the previous year, the company earned $1.15 EPS. analysts forecast that CNA Financial will post 3.07 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CNA. Blair William & Co. IL lifted its stake in CNA Financial by 1.4% in the 2nd quarter. Blair William & Co. IL now owns 6,484 shares of the insurance provider’s stock valued at $316,000 after purchasing an additional 89 shares during the last quarter. Utah Retirement Systems lifted its stake in CNA Financial by 2.0% in the 2nd quarter. Utah Retirement Systems now owns 5,010 shares of the insurance provider’s stock valued at $245,000 after purchasing an additional 100 shares during the last quarter. Parallel Advisors LLC lifted its stake in CNA Financial by 3.6% in 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 last quarter. AMG Funds LLC lifted its stake in CNA Financial by 1.2% in the 2nd quarter. AMG Funds LLC now owns 14,504 shares of the insurance provider’s stock valued at $707,000 after purchasing an additional 170 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in CNA Financial by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 6,228 shares of the insurance provider’s stock valued at $275,000 after purchasing an additional 219 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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