Zacks Investment Research upgraded shares of CNA Financial Corp. (NYSE:CNA) from a hold rating to a buy rating in a research note published on Monday morning. The brokerage currently has $38.00 price objective on the stock.
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. “
CNA Financial Corp. (NYSE:CNA) opened at 34.56 on Monday. The company has a 50-day moving average price of $33.26 and a 200-day moving average price of $32.23. CNA Financial Corp. has a one year low of $27.99 and a one year high of $37.34. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 24.39 and a beta of 1.25.
CNA Financial Corp. (NYSE:CNA) last released its earnings results on Monday, August 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. CNA Financial Corp. had a net margin of 4.27% and a return on equity of 4.28%. During the same quarter last year, the firm posted $0.49 earnings per share. Equities research analysts anticipate that CNA Financial Corp. will post $2.68 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in CNA Financial Corp. by 119.8% in the first quarter. Goldman Sachs Group Inc. now owns 121,108 shares of the company’s stock worth $3,898,000 after buying an additional 66,005 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in CNA Financial Corp. by 281.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 42,359 shares of the company’s stock worth $1,363,000 after buying an additional 31,259 shares in the last quarter. Aviva PLC raised its stake in CNA Financial Corp. by 1.8% in the first quarter. Aviva PLC now owns 56,108 shares of the company’s stock worth $1,806,000 after buying an additional 1,008 shares in the last quarter. American Century Companies Inc. raised its stake in CNA Financial Corp. by 3.3% in the second quarter. American Century Companies Inc. now owns 27,247 shares of the company’s stock worth $856,000 after buying an additional 883 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in CNA Financial Corp. during the second quarter worth approximately $883,000. 99.12% of the stock is owned by hedge funds and other institutional investors.
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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