CNA Financial (NYSE:CNA) Shares Gap Down on Disappointing Earnings

CNA Financial Co. (NYSE:CNA)’s share price gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $44.40, but opened at $42.93. CNA Financial shares last traded at $44.20, with a volume of 68,170 shares trading hands.

The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.07). The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $2.94 billion. CNA Financial had a return on equity of 14.33% and a net margin of 9.06%. During the same quarter in the previous year, the business posted $1.19 EPS.

CNA Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Monday, May 20th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, May 17th. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. CNA Financial’s dividend payout ratio is 39.73%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, February 14th. Keefe, Bruyette & Woods raised their price objective on shares of CNA Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, Bank of America downgraded CNA Financial from a “neutral” rating to an “underperform” rating and upped their target price for the company from $39.00 to $43.00 in a research report on Tuesday, February 6th.

Hedge Funds Weigh In On CNA Financial

A number of hedge funds have recently bought and sold shares of CNA. Russell Investments Group Ltd. grew its position in shares of CNA Financial by 9.5% during the 1st quarter. Russell Investments Group Ltd. now owns 58,958 shares of the insurance provider’s stock worth $2,678,000 after purchasing an additional 5,130 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in CNA Financial during the first quarter worth approximately $231,000. Commonwealth Equity Services LLC increased its stake in CNA Financial by 4.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 52,935 shares of the insurance provider’s stock worth $2,404,000 after acquiring an additional 2,357 shares during the period. SlateStone Wealth LLC raised its holdings in CNA Financial by 6.8% in the 1st quarter. SlateStone Wealth LLC now owns 16,964 shares of the insurance provider’s stock valued at $771,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Wealthstar Advisors LLC lifted its position in shares of CNA Financial by 11.6% during the 1st quarter. Wealthstar Advisors LLC now owns 8,091 shares of the insurance provider’s stock valued at $367,000 after acquiring an additional 842 shares during the period. 98.45% of the stock is owned by institutional investors.

CNA Financial Trading Down 0.9 %

The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63. The firm has a fifty day moving average price of $44.05 and a 200-day moving average price of $42.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26.

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.