StockNews.com Initiates Coverage on CNA Financial (NYSE:CNA)

StockNews.com started coverage on shares of CNA Financial (NYSE:CNA – Get Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the insurance provider’s stock.

CNA Financial Stock Down 2.9 %

Shares of NYSE:CNA opened at $37.10 on Thursday. The stock’s 50-day moving average price is $42.98 and its two-hundred day moving average price is $41.29. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.29. CNA Financial has a 12-month low of $35.90 and a 12-month high of $50.33. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.87 and a beta of 0.67.

CNA Financial (NYSE:CNA – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.18. CNA Financial had a return on equity of 11.25% and a net margin of 7.53%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $0.97 EPS. On average, research analysts forecast that CNA Financial will post 4.25 EPS for the current year.

Hedge Funds Weigh In On CNA Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its stake in shares of CNA Financial by 258.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 555 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of CNA Financial in the 1st quarter valued at about $27,000. Wipfli Financial Advisors LLC acquired a new position in CNA Financial during the 3rd quarter worth approximately $35,000. Credit Suisse AG acquired a new position in CNA Financial during the 2nd quarter worth approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in CNA Financial during the 4th quarter worth approximately $38,000. 98.35% of the stock is owned by institutional investors and hedge funds.

About CNA Financial

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CNA Financial Corp. engages in the provision of insurance holdings. It operates through the following business segments: Specialty, Commercial, and International. The Specialty segment provides professional, financial, and specialty property and casualty products and services. The Commercial segment includes property and casualty coverages sold to small businesses and middle market entities and organizations primarily through an independent agency distribution system.