Keefe, Bruyette & Woods Raises CNA Financial (NYSE:CNA) Price Target to $48.00

by · The Markets Daily

CNA Financial (NYSE:CNA – Free Report) had its price target hoisted by Keefe, Bruyette & Woods from $46.00 to $48.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a market perform rating on the insurance provider’s stock.

Several other brokerages also recently issued reports on CNA. StockNews.com downgraded CNA Financial from a buy rating to a hold rating in a research report on Tuesday, February 6th. Bank of America cut shares of CNA Financial from a neutral rating to an underperform rating and raised their price target for the stock from $39.00 to $43.00 in a research note on Tuesday, February 6th.

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CNA Financial Price Performance

CNA opened at $47.19 on Monday. The stock has a fifty day moving average of $43.33 and a 200-day moving average of $41.23. The firm has a market capitalization of $12.78 billion, a P/E ratio of 10.65, a PEG ratio of 1.78 and a beta of 0.63. CNA Financial has a 12-month low of $36.17 and a 12-month high of $47.37. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25.

CNA Financial (NYSE:CNA – Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The insurance provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $2.95 billion. CNA Financial had a net margin of 9.06% and a return on equity of 14.33%. During the same period in the prior year, the business posted $1.01 earnings per share. Equities analysts forecast that CNA Financial will post 5.21 EPS for the current fiscal year.

CNA Financial Increases Dividend

The company also recently announced a None dividend, which will be paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th will be paid a $2.44 dividend. The ex-dividend date is Friday, February 16th. This represents a dividend yield of 3.8%. This is a boost from CNA Financial’s previous None dividend of $1.62. CNA Financial’s payout ratio is 39.73%.

Institutional Trading of CNA Financial

A number of institutional investors have recently bought and sold shares of CNA. Quantinno Capital Management LP lifted its position in CNA Financial by 89.2% in the 2nd quarter. Quantinno Capital Management LP now owns 20,885 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 9,845 shares in the last quarter. Comerica Bank acquired a new position in shares of CNA Financial during the 2nd quarter worth about $199,770,000. Bank of Montreal Can acquired a new position in shares of CNA Financial during the 2nd quarter worth about $255,000. Private Management Group Inc. grew its stake in CNA Financial by 8.3% in the 3rd quarter. Private Management Group Inc. now owns 875,207 shares of the insurance provider’s stock valued at $34,439,000 after buying an additional 66,795 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in CNA Financial in the 3rd quarter valued at about $1,485,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

CNA Financial Company Profile

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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.

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