Keefe, Bruyette & Woods Cuts CNA Financial (NYSE:CNA) Price Target to $54.00

CNA Financial (NYSE:CNA) had its price objective cut by Keefe, Bruyette & Woods from $55.00 to $54.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a market perform rating on the insurance provider’s stock.

CNA has been the subject of several other reports. Bank of America raised their price target 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. StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

CNA Financial Stock Performance

NYSE:CNA opened at $45.78 on Friday. The business’s fifty day moving average is $48.64 and its 200 day moving average is $48.76. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 6.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.26 and a current ratio of 0.26. CNA Financial has a 52-week low of $41.64 and a 52-week high of $52.36.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.15 billion. CNA Financial had a return on equity of 13.30% and a net margin of 9.26%. During the same period in the prior year, the business posted $1.06 earnings per share. Research analysts predict that CNA Financial will post 4.68 EPS for the current year.

CNA Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Monday, November 18th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, November 18th. CNA Financial’s payout ratio is 36.67%.

Insider Transactions at CNA Financial

In related news, EVP Douglas Worman sold 22,973 shares of the stock in a transaction 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 transaction, the executive vice president now owns 133,777 shares of the company’s stock, valued at $6,521,628.75. This represents a 14.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNA Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CNA. Raymond James Trust N.A. raised its position in CNA Financial by 4.1% in the 3rd quarter. Raymond James Trust N.A. now owns 6,526 shares of the insurance provider’s stock worth $319,000 after purchasing an additional 260 shares during the period. GAMMA Investing LLC increased its holdings in shares of CNA Financial by 16.7% in the fourth quarter. GAMMA Investing LLC now owns 2,051 shares of the insurance provider’s stock worth $99,000 after buying an additional 293 shares during the period. Abich Financial Wealth Management LLC lifted its stake in shares of CNA Financial by 17.3% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,059 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 303 shares during the last quarter. AE Wealth Management LLC boosted its holdings in CNA Financial by 1.1% during the 2nd quarter. AE Wealth Management LLC now owns 39,256 shares of the insurance provider’s stock valued at $1,809,000 after acquiring an additional 431 shares during the period. Finally, Measured Wealth Private Client Group LLC grew its position in CNA Financial by 4.4% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 13,605 shares of the insurance provider’s stock worth $666,000 after acquiring an additional 578 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

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.