Zacks: Brokerages Set $40.00 Target Price for CNA Financial Corp. (NYSE:CNA)
CNA Financial Corp. (NYSE:CNA) has been assigned an average broker rating score of 2.00 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Brokers have set a twelve-month consensus price objective of $40.00 for the company and are predicting that the company will post $0.79 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CNA Financial Corp. an industry rank of 195 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of CNA Financial Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of CNA Financial Corp. by 58.5% in the first quarter. Renaissance Technologies LLC now owns 651,000 shares of the company’s stock worth $20,949,000 after buying an additional 240,300 shares during the last quarter. Pacifica Capital Investments LLC increased its stake in shares of CNA Financial Corp. by 0.3% in the second quarter. Pacifica Capital Investments LLC now owns 388,306 shares of the company’s stock worth $12,201,000 after buying an additional 981 shares during the period. Towle & Co. increased its stake in shares of CNA Financial Corp. by 1.0% in the second quarter. Towle & Co. now owns 385,282 shares of the company’s stock worth $12,106,000 after buying an additional 3,860 shares during the period. AXA increased its stake in shares of CNA Financial Corp. by 6.7% in the first quarter. AXA now owns 382,210 shares of the company’s stock worth $12,300,000 after buying an additional 24,036 shares during the period. Finally, Carlson Capital L P increased its stake in shares of CNA Financial Corp. by 200.8% in the second quarter. Carlson Capital L P now owns 359,336 shares of the company’s stock worth $11,290,000 after buying an additional 239,883 shares during the period. Hedge funds and other institutional investors own 99.12% of the company’s stock.
CNA Financial Corp. (NYSE:CNA) traded down 0.97% on Friday, hitting $32.83. 77,029 shares of the stock were exchanged. CNA Financial Corp. has a 1-year low of $27.99 and a 1-year high of $37.34. The company has a 50-day moving average price of $32.84 and a 200 day moving average price of $32.02. The company has a market capitalization of $8.88 billion, a PE ratio of 23.17 and a beta of 1.24.
CNA Financial Corp. (NYSE:CNA) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. CNA Financial Corp. had a net margin of 4.27% and a return on equity of 4.28%. During the same period last year, the company posted $0.49 EPS. Analysts anticipate that CNA Financial Corp. will post $2.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. CNA Financial Corp.’s payout ratio is presently 70.92%.
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. The Specialty segment provides an array of professional, financial, and specialty property and casualty products and services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CNA Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNA Financial Corp. and related companies with MarketBeat.com's FREE daily email newsletter.