CNA Financial (NYSE:CNA) Reaches New 52-Week Low – Here’s Why

CNA Financial Corporation (NYSE:CNA) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $42.45 and last traded at $42.7850, with a volume of 6204 shares trading hands. The stock had previously closed at $42.79.

Analyst Ratings Changes

CNA has been the topic of a number of recent research reports. Weiss Ratings cut CNA Financial from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut CNA Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Zacks Research downgraded shares of CNA Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

CNA Financial Price Performance

The business’s 50 day moving average is $45.81 and its two-hundred day moving average is $46.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market capitalization of $11.57 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 6.02 and a beta of 0.35.

CNA Financial (NYSE:CNA) last posted its earnings results on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.47). CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Equities research analysts anticipate that CNA Financial Corporation will post 4.06 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Monday, May 18th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.92 dividend on an annualized basis and a yield of 4.5%. CNA Financial’s dividend payout ratio is 42.95%.

Insider Buying and Selling

In other CNA Financial news, SVP Jeffrey John Neuenschwander sold 3,287 shares of CNA Financial stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $45.97, for a total transaction of $151,103.39. Following the completion of the transaction, the senior vice president owned 7,277 shares of the company’s stock, valued at $334,523.69. The trade was a 31.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CNA Financial

Large investors have recently modified their holdings of the company. Amundi increased its holdings in CNA Financial by 5.3% during the 1st quarter. Amundi now owns 7,787 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 389 shares during the period. Goldman Sachs Group Inc. boosted its holdings in CNA Financial by 0.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,997 shares of the insurance provider’s stock valued at $17,878,000 after purchasing an additional 2,466 shares during the period. Empowered Funds LLC grew its position in shares of CNA Financial by 12.9% during the 1st quarter. Empowered Funds LLC now owns 5,966 shares of the insurance provider’s stock valued at $303,000 after purchasing an additional 684 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of CNA Financial during the 1st quarter valued at $281,000. Finally, Quantbot Technologies LP bought a new position in shares of CNA Financial in the second quarter worth $55,000. 98.45% of the stock is currently owned by institutional investors.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.