CNA Financial Corp. (NYSE:CNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $38.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 10.43% from the company’s previous close.
According to Zacks, “CNA Financial Corporation is an insurance holding company whose primary subsidiaries consist of property/casualty and life insurance companies. CNA’s property/casualty insurance operations are conducted by Continental Casualty Company and The Continental Insurance Company. Life insurance operations are conducted by Continental Assurance Company. “
Shares of CNA Financial Corp. (NYSE:CNA) opened at 34.41 on Monday. The company has a 50 day moving average price of $33.12 and a 200 day moving average price of $32.20. The company has a market cap of $9.31 billion, a P/E ratio of 24.28 and a beta of 1.24. CNA Financial Corp. has a one year low of $27.99 and a one year high of $37.34.
CNA Financial Corp. (NYSE:CNA) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, topping 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 quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that CNA Financial Corp. will post $2.68 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of CNA. Renaissance Technologies LLC raised its position in shares of CNA Financial Corp. by 58.5% in the first quarter. Renaissance Technologies LLC now owns 651,000 shares of the company’s stock valued at $20,949,000 after buying an additional 240,300 shares in the last quarter. Carlson Capital L P raised its position in shares of CNA Financial Corp. by 200.8% in the second quarter. Carlson Capital L P now owns 359,336 shares of the company’s stock valued at $11,290,000 after buying an additional 239,883 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of CNA Financial Corp. during the second quarter valued at about $4,586,000. OMERS ADMINISTRATION Corp purchased a new position in shares of CNA Financial Corp. during the first quarter valued at about $2,993,000. Finally, Aperio Group LLC raised its position in shares of CNA Financial Corp. by 228.3% in the first quarter. Aperio Group LLC now owns 128,059 shares of the company’s stock valued at $4,121,000 after buying an additional 89,054 shares in the last quarter. 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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