Cna Financial Corp (CNA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cna Financial Corp (NYSE:CNA) from a hold rating to a buy rating in a research report report published on Thursday, May 4th. They currently have $51.00 price target on the insurance provider’s stock.

According to Zacks, “CNA Financial’s first-quarter 2017 earnings outpaced the Zacks Consensus Estimate and also improved year over year, primarily due to higher net investment income. CNA Financial’s is one of the versatile property and casualty (P&C) insurers displaying continued improvement in the combined ratio of its P&C business, leading to underwriting profitability. Moreover, the company remains committed in enhancing shareholders value via effective capital deployment. This in turn, makes the stock an attractive pick for yield-seeking investors. However, the insurer has been suffering significant catastrophe losses, which pose an inherent risk to the P&C business, inducing volatility in underwriting results. Also, declining investment income and weak operating income remain concerns. Shares of CNA Financial have underperformed the Zacks categorized Property and Casualty insurance industry since the release of first-quarter results.”

Separately, Deutsche Bank AG lowered Cna Financial Corp from a buy rating to a hold rating and lifted their price objective for the stock from $45.00 to $46.00 in a research note on Tuesday, May 2nd.

Cna Financial Corp (NYSE:CNA) last posted its earnings results on Monday, May 1st. The insurance provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.08. Cna Financial Corp had a return on equity of 7.43% and a net margin of 9.17%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.27%. Cna Financial Corp’s payout ratio is presently 31.65%.

In other news, CEO Dino Robusto purchased 12,000 shares of the stock in a transaction that occurred on Tuesday, February 21st. The shares were purchased at an average cost of $41.84 per share, for a total transaction of $502,080.00. Following the completion of the purchase, the chief executive officer now directly owns 12,000 shares of the company’s stock, valued at approximately $502,080. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Rosenberg sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $45.02, for a total value of $675,300.00. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management increased its position in shares of Cna Financial Corp by 17.3% in the first quarter. LSV Asset Management now owns 1,352,502 shares of the insurance provider’s stock valued at $59,740,000 after buying an additional 199,443 shares during the last quarter. Norges Bank acquired a new position in shares of Cna Financial Corp during the fourth quarter valued at approximately $29,667,000. Bank of America Corp DE increased its position in shares of Cna Financial Corp by 0.5% in the first quarter. Bank of America Corp DE now owns 693,798 shares of the insurance provider’s stock valued at $30,645,000 after buying an additional 3,408 shares during the last quarter. First Trust Advisors LP increased its position in shares of Cna Financial Corp by 41.6% in the first quarter. First Trust Advisors LP now owns 581,424 shares of the insurance provider’s stock valued at $25,681,000 after buying an additional 170,926 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Cna Financial Corp by 3.9% in the first quarter. Vanguard Group Inc. now owns 550,006 shares of the insurance provider’s stock valued at $24,294,000 after buying an additional 20,462 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Cna Financial Corp Company Profile

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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