Zacks Research Comments on CNA Financial FY2024 Earnings

CNA Financial Co. (NYSE:CNA) – Stock analysts at Zacks Research issued their FY2024 EPS estimates for shares of CNA Financial in a research report issued on Monday, November 18th. Zacks Research analyst T. De expects that the insurance provider will post earnings per share of $4.65 for the year. The consensus estimate for CNA Financial’s current full-year earnings is $4.65 per share.

CNA Financial (NYSE:CNA) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. During the same quarter last year, the business posted $1.06 earnings per share.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, November 8th. Bank of America boosted their price objective on shares of CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday, October 10th. Finally, StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

CNA Financial Stock Up 0.8 %

Shares of NYSE CNA opened at $49.60 on Thursday. The firm’s fifty day moving average is $48.91 and its 200 day moving average is $47.72. CNA Financial has a 52 week low of $40.92 and a 52 week high of $52.36. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 6.26 and a beta of 0.65. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28.

CNA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a $0.44 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.76 annualized dividend and a yield of 3.55%. CNA Financial’s dividend payout ratio (DPR) is presently 36.67%.

Insider Activity

In other news, EVP Douglas Worman sold 22,973 shares of CNA Financial stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.75, for a total value of $1,119,933.75. Following the sale, the executive vice president now directly owns 133,777 shares of the company’s stock, valued at $6,521,628.75. The trade was a 14.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Steven James sold 18,547 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $50.58, for a total transaction of $938,107.26. Following the completion of the sale, the executive vice president now owns 22,917 shares of the company’s stock, valued at approximately $1,159,141.86. The trade was a 44.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CNA Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC purchased a new position in shares of CNA Financial in the 3rd quarter valued at approximately $36,000. Fairscale Capital LLC acquired a new position in shares of CNA Financial in the second quarter worth $55,000. GAMMA Investing LLC raised its stake in CNA Financial by 36.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,566 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 422 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of CNA Financial by 39.1% during the first quarter. Abich Financial Wealth Management LLC now owns 1,756 shares of the insurance provider’s stock valued at $80,000 after buying an additional 494 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of CNA Financial by 82.0% during the first quarter. Covestor Ltd now owns 1,971 shares of the insurance provider’s stock worth $90,000 after purchasing an additional 888 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

About CNA Financial

CNA Financial Corporation provides commercial property and casualty insurance products in the United States and internationally. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity and cyber coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products.