Keefe, Bruyette & Woods Initiates Coverage on CNA Financial Corp. (CNA)
Equities research analysts at Keefe, Bruyette & Woods started coverage on shares of CNA Financial Corp. (NYSE:CNA) in a note issued to investors on Friday. The brokerage set a “market perform” rating and a $39.00 price target on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 10.67% from the company’s previous close.
Separately, Zacks Investment Research lowered CNA Financial Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.75.
CNA Financial Corp. (NYSE:CNA) opened at 35.24 on Friday. The firm has a market cap of $9.53 billion, a price-to-earnings ratio of 24.87 and a beta of 1.24. CNA Financial Corp. has a 1-year low of $27.99 and a 1-year high of $37.34. The firm has a 50-day moving average price of $33.42 and a 200-day moving average price of $32.29.
CNA Financial Corp. (NYSE:CNA) last released its quarterly earnings data on Monday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. CNA Financial Corp. had a return on equity of 4.28% and a net margin of 4.27%. During the same period last year, the business earned $0.49 EPS. On average, analysts expect that CNA Financial Corp. will post $2.68 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CNA. Societe Generale bought a new position in CNA Financial Corp. during the second quarter worth approximately $111,000. Quantbot Technologies LP bought a new position in CNA Financial Corp. during the second quarter worth approximately $171,000. Ameriprise Financial Inc. bought a new position in CNA Financial Corp. during the second quarter worth approximately $227,000. Cubist Systematic Strategies LLC bought a new position in CNA Financial Corp. during the second quarter worth approximately $262,000. Finally, Yakira Capital Management Inc. bought a new position in CNA Financial Corp. during the first quarter worth approximately $306,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.
About CNA Financial Corp.
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.
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