Cna Financial (NYSE:CNA) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Cna Financial (NYSE:CNA) from a hold rating to a buy rating in a report released on Thursday, January 4th. They currently have $59.00 price objective on the insurance provider’s stock.
According to Zacks, “Shares of CNA Financial have outperformed the industry in a year's time. However, the company did not witness any earnings momentum for its 2017 and 2018 estimates in the last 60 days. Being one of the versatile property and casualty (P&C) insurers, CNA Financial has been maintaining a good track record of combined ratio over the past few years, thereby leading to underwriting profitability. Moreover, with the rising interest rate environment, the company has been displaying improving investment results over a considerable period of time. The company also remains committed in enhancing shareholders value via effective capital deployment. Its long-term care business continues to perform strongly. However, exposure to catastrophe losses poses an inherent risk to the P&C business, thus rendering volatility to the company’s earnings.”
Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Cna Financial from a strong-buy rating to a buy rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods reissued a hold rating and issued a $55.00 price objective on shares of Cna Financial in a research note on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $53.33.
Cna Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.27). Cna Financial had a return on equity of 7.14% and a net margin of 9.67%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the company posted $1.15 EPS. equities analysts forecast that Cna Financial will post 3.21 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its holdings in Cna Financial by 1.4% in the 2nd quarter. Blair William & Co. IL now owns 6,484 shares of the insurance provider’s stock valued at $316,000 after purchasing an additional 89 shares in the last quarter. Utah Retirement Systems lifted its holdings in shares of Cna Financial by 2.0% during the 2nd quarter. Utah Retirement Systems now owns 5,010 shares of the insurance provider’s stock worth $245,000 after acquiring an additional 100 shares during the period. AMG Funds LLC lifted its holdings in shares of Cna Financial by 1.2% during the 2nd quarter. AMG Funds LLC now owns 14,504 shares of the insurance provider’s stock worth $707,000 after acquiring an additional 170 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Cna Financial by 5.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 8,415 shares of the insurance provider’s stock worth $410,000 after acquiring an additional 415 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cna Financial by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,230 shares of the insurance provider’s stock worth $401,000 after acquiring an additional 565 shares during the period. Institutional investors own 99.74% of the company’s stock.
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Cna Financial 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. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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