Cna Financial (CNA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Cna Financial (NYSE:CNA) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

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.”

Several other equities research analysts have also commented on CNA. ValuEngine lowered Cna Financial from a strong-buy rating to a buy rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a hold rating and issued a $55.00 price objective on shares of Cna Financial in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $53.33.

Shares of Cna Financial (NYSE CNA) opened at $53.05 on Tuesday. The company has a market capitalization of $14,282.89, a P/E ratio of 15.70, a P/E/G ratio of 2.99 and a beta of 1.32. Cna Financial has a 52-week low of $39.96 and a 52-week high of $55.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.23 and a quick ratio of 0.23.

Cna Financial (NYSE:CNA) last issued its earnings results 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). The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Cna Financial had a net margin of 9.67% and a return on equity of 7.14%. During the same quarter in the prior year, the company earned $1.15 EPS. equities analysts expect that Cna Financial will post 3.07 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management boosted its position in Cna Financial by 5.3% in the 2nd quarter. LSV Asset Management now owns 1,424,022 shares of the insurance provider’s stock worth $69,421,000 after purchasing an additional 71,520 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Cna Financial by 60.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,126,396 shares of the insurance provider’s stock worth $56,601,000 after purchasing an additional 424,158 shares in the last quarter. First Trust Advisors LP boosted its position in Cna Financial by 26.1% in the 3rd quarter. First Trust Advisors LP now owns 770,306 shares of the insurance provider’s stock worth $38,708,000 after purchasing an additional 159,401 shares in the last quarter. Towle & Co. boosted its position in Cna Financial by 2.4% in the 3rd quarter. Towle & Co. now owns 469,962 shares of the insurance provider’s stock worth $23,616,000 after purchasing an additional 11,227 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Cna Financial by 33.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 418,684 shares of the insurance provider’s stock worth $21,039,000 after purchasing an additional 105,815 shares in the last quarter. Institutional investors and hedge funds own 99.69% of the company’s stock.

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About Cna Financial

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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