CNA Financial (NYSE:CNA) – Stock analysts at Langen Mcalenn raised their Q1 2018 earnings per share estimates for CNA Financial in a research report issued to clients and investors on Wednesday, April 11th. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings per share of $0.83 for the quarter, up from their previous estimate of $0.82. Langen Mcalenn also issued estimates for CNA Financial’s FY2018 earnings at $3.80 EPS.
A number of other equities analysts also recently weighed in on CNA. Zacks Investment Research upgraded shares of CNA Financial from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Thursday, January 4th. ValuEngine upgraded shares of CNA Financial from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CNA Financial currently has an average rating of “Buy” and an average target price of $53.33.
CNA Financial (NYSE:CNA) last issued its earnings results on Monday, February 12th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.23. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.36 billion. CNA Financial had a net margin of 9.42% and a return on equity of 7.64%. During the same period in the previous year, the company earned $0.82 earnings per share.
Several large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its holdings in shares of CNA Financial by 1.6% in the fourth quarter. Macquarie Group Ltd. now owns 69,800 shares of the insurance provider’s stock valued at $3,703,000 after purchasing an additional 1,100 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in shares of CNA Financial by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 47,268 shares of the insurance provider’s stock valued at $2,508,000 after purchasing an additional 2,882 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CNA Financial in the fourth quarter valued at $308,000. Verition Fund Management LLC acquired a new position in shares of CNA Financial in the fourth quarter valued at $229,000. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of CNA Financial by 61.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 165,994 shares of the insurance provider’s stock valued at $8,805,000 after purchasing an additional 62,927 shares during the last quarter. Hedge funds and other institutional investors own 99.64% of the company’s stock.
In related news, EVP Scott L. Weber sold 1,486 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $49.83, for a total transaction of $74,047.38. Following the transaction, the executive vice president now directly owns 2,382 shares in the company, valued at $118,695.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Larry A. Haefner sold 7,457 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $53.25, for a total transaction of $397,085.25. Following the transaction, the executive vice president now owns 42,460 shares in the company, valued at $2,260,995. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Monday, February 26th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.45%. CNA Financial’s payout ratio is 35.50%.
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About CNA Financial
CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company's property insurance products include property, marine, boiler, and machinery coverages; and casualty insurance products comprise workers compensation, general and product liability, commercial auto, and umbrella coverages.
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