Brokers Set Expectations for CNA Financial FY2024 Earnings

CNA Financial Co. (NYSE:CNA) – Analysts at Zacks Research issued their FY2024 EPS estimates for shares of CNA Financial in a research report issued on Monday, November 18th. Zacks Research analyst T. De forecasts that the insurance provider will post earnings per share of $4.65 for the year. The consensus estimate for CNA Financial’s current full-year earnings is $4.65 per share.

A number of other analysts have also weighed in on CNA. StockNews.com raised shares of CNA Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. Bank of America raised their price objective on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of CNA Financial from $54.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, November 8th.

CNA Financial Trading Up 0.5 %

Shares of NYSE CNA opened at $48.85 on Thursday. CNA Financial has a twelve month low of $40.75 and a twelve month high of $52.36. The firm has a market cap of $13.23 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 6.31 and a beta of 0.65. The business has a fifty day simple moving average of $48.93 and a two-hundred day simple moving average of $47.67. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.28.

CNA Financial (NYSE:CNA) last posted its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same quarter in the previous year, the firm posted $1.06 earnings per share.

CNA Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Monday, November 18th will be issued a $0.44 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.76 annualized dividend and a yield of 3.60%. CNA Financial’s dividend payout ratio (DPR) is presently 36.67%.

Insiders Place Their Bets

In other CNA Financial news, EVP Douglas Worman sold 22,973 shares of CNA Financial stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the completion of the transaction, the executive vice president now owns 133,777 shares in the company, valued at approximately $6,521,628.75. This trade represents a 14.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Steven James sold 18,547 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $50.58, for a total value of $938,107.26. Following the completion of the sale, the executive vice president now owns 22,917 shares in the company, valued at $1,159,141.86. The trade was a 44.73 % decrease in their position. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CNA Financial

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund grew its position in CNA Financial by 366.7% during the third quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock valued at $68,591,000 after buying an additional 1,101,217 shares during the period. AQR Capital Management LLC grew its position in shares of CNA Financial by 97.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock valued at $51,760,000 after acquiring an additional 570,172 shares during the period. Bank of New York Mellon Corp grew its position in shares of CNA Financial by 45.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,068,956 shares of the insurance provider’s stock valued at $49,247,000 after acquiring an additional 334,463 shares during the period. River Road Asset Management LLC increased its stake in shares of CNA Financial by 0.6% in the 3rd quarter. River Road Asset Management LLC now owns 1,012,492 shares of the insurance provider’s stock valued at $49,551,000 after purchasing an additional 5,539 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in CNA Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock worth $32,079,000 after purchasing an additional 7,201 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

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.