Q2 2024 EPS Estimates for CNA Financial Co. Cut by Analyst (NYSE:CNA)

CNA Financial Co. (NYSE:CNA) – Equities researchers at Zacks Research lowered their Q2 2024 earnings per share estimates for CNA Financial in a research report issued on Monday, May 20th. Zacks Research analyst T. De now anticipates that the insurance provider will post earnings of $1.29 per share for the quarter, down from their prior estimate of $1.50. The consensus estimate for CNA Financial’s current full-year earnings is $5.00 per share. Zacks Research also issued estimates for CNA Financial’s FY2024 earnings at $4.92 EPS, Q4 2025 earnings at $1.11 EPS, Q1 2026 earnings at $1.63 EPS and FY2026 earnings at $4.83 EPS.

Several other equities research analysts also recently commented on the company. StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Bank of America downgraded CNA Financial from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $39.00 to $43.00 in a report on Tuesday, February 6th. Finally, Keefe, Bruyette & Woods lifted their target price on CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th.

CNA Financial Trading Up 1.2 %

NYSE CNA opened at $44.93 on Wednesday. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 1.81 and a beta of 0.63. CNA Financial has a 52 week low of $36.41 and a 52 week high of $47.37. The business has a 50 day moving average price of $44.24 and a 200-day moving average price of $43.32. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31.

CNA Financial (NYSE:CNA) last issued its earnings results on Monday, May 6th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $2.94 billion. CNA Financial had a return on equity of 14.27% and a net margin of 9.17%. During the same quarter in the previous year, the firm posted $1.19 earnings per share.

CNA Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be given a dividend of $0.44 per share. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.76 annualized dividend and a dividend yield of 3.92%. CNA Financial’s payout ratio is presently 38.43%.

Insider Activity at CNA Financial

In other CNA Financial news, CAO Daniel Paul Franzetti sold 23,301 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $44.78, for a total value of $1,043,418.78. Following the transaction, the chief accounting officer now owns 63,996 shares of the company’s stock, valued at $2,865,740.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Loews Corp lifted its position in shares of CNA Financial by 1.8% during the 3rd quarter. Loews Corp now owns 248,414,738 shares of the insurance provider’s stock valued at $9,775,120,000 after buying an additional 4,456,050 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of CNA Financial by 20.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,178,228 shares of the insurance provider’s stock valued at $49,851,000 after purchasing an additional 199,209 shares during the period. Vanguard Group Inc. raised its stake in shares of CNA Financial by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock valued at $32,079,000 after purchasing an additional 7,201 shares during the period. CORDA Investment Management LLC. raised its stake in shares of CNA Financial by 0.4% during the 4th quarter. CORDA Investment Management LLC. now owns 631,186 shares of the insurance provider’s stock valued at $26,705,000 after purchasing an additional 2,775 shares during the period. Finally, Norges Bank bought a new stake in shares of CNA Financial during the 4th quarter valued at $14,296,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

About CNA Financial

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.