CNA Financial (NYSE:CNA) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of CNA Financial (NYSE:CNA) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of CNA Financial in a research report on Monday, December 29th. Wall Street Zen lowered CNA Financial from a “buy” rating to a “hold” rating in a research note on Saturday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.00.

CNA Financial Stock Down 1.9%

Shares of NYSE:CNA opened at $46.85 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 3.93 and a beta of 0.37. The company has a 50 day moving average of $46.19 and a 200-day moving average of $46.25. CNA Financial has a one year low of $43.29 and a one year high of $51.34.

CNA Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, November 3rd. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.25. CNA Financial had a net margin of 6.71% and a return on equity of 12.78%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned $1.08 earnings per share. On average, sell-side analysts forecast that CNA Financial will post 4.64 earnings per share for the current year.

CNA Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 17th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, November 17th. This represents a $1.84 annualized dividend and a yield of 3.9%. CNA Financial’s payout ratio is currently 50.41%.

Insider Activity

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $46.92, for a total value of $293,250.00. Following the completion of the sale, the chairman directly owned 668,088 shares in the company, valued at $31,346,688.96. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On CNA Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Alpine Bank Wealth Management raised its holdings in CNA Financial by 70.0% during the 3rd quarter. Alpine Bank Wealth Management now owns 556 shares of the insurance provider’s stock worth $26,000 after buying an additional 229 shares during the period. Covestor Ltd increased its position in shares of CNA Financial by 129.7% during the third quarter. Covestor Ltd now owns 712 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 402 shares in the last quarter. Allworth Financial LP raised its holdings in shares of CNA Financial by 102.3% during the second quarter. Allworth Financial LP now owns 785 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 397 shares during the period. Ameriflex Group Inc. raised its holdings in shares of CNA Financial by 100.0% during the third quarter. Ameriflex Group Inc. now owns 820 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 410 shares during the period. Finally, IFP Advisors Inc lifted its position in CNA Financial by 240.3% in the 2nd quarter. IFP Advisors Inc now owns 878 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 620 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About CNA Financial

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.