CNA Financial (NYSE:CNA) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CNA Financial (NYSE:CNA) from a hold rating to a buy rating in a research note published on Wednesday.

Other equities research analysts have also recently issued reports about the stock. Bank of America upped 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. Keefe, Bruyette & Woods boosted their price objective on CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th.

CNA Financial Price Performance

NYSE CNA opened at $48.99 on Wednesday. CNA Financial has a fifty-two week low of $39.35 and a fifty-two week high of $52.36. The stock’s 50-day moving average is $49.05 and its two-hundred day moving average is $47.58. The firm has a market cap of $13.27 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 6.22 and a beta of 0.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.26 and a quick ratio of 0.26.

CNA Financial (NYSE:CNA) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.01. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.06 EPS. On average, analysts anticipate that CNA Financial will post 4.65 earnings per share for the current fiscal year.

CNA Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, November 18th. CNA Financial’s payout ratio is currently 36.67%.

Insider Buying and Selling at CNA Financial

In related news, 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 value of $938,107.26. Following the completion of the transaction, the executive vice president now owns 22,917 shares of the company’s stock, valued at $1,159,141.86. This represents a 44.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Douglas Worman sold 22,973 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the transaction, the executive vice president now owns 133,777 shares of the company’s stock, valued at approximately $6,521,628.75. This represents a 14.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,680 shares of company stock valued at $3,355,577 in the last ninety days. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CNA Financial

Several hedge funds and other institutional investors have recently modified their holdings of CNA. True Wealth Design LLC acquired a new stake in shares of CNA Financial during the 3rd quarter worth about $36,000. Fairscale Capital LLC bought a new position in shares of CNA Financial in the second quarter valued at approximately $55,000. GAMMA Investing LLC boosted its holdings in shares of CNA Financial by 36.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,566 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 422 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in CNA Financial by 39.1% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,756 shares of the insurance provider’s stock valued at $80,000 after purchasing an additional 494 shares in the last quarter. Finally, Covestor Ltd raised its position in CNA Financial by 82.0% in the 1st quarter. Covestor Ltd now owns 1,971 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 888 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

CNA Financial Company Profile

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.