CNA Financial (CNA) is expected to release results on Monday
CNA Financial (NYSE: ANC – Get a rating) is expected to release its quarterly results before the market opens on Monday, August 1. Analysts expect CNA Financial to post earnings of $0.99 per share for the quarter. Those interested in registering for the company’s earnings conference call can do so using this link.
CNA Financial (NYSE: ANC – Get a rating) last released its quarterly earnings data on Monday, May 2. The insurance provider reported earnings per share of $1.16 for the quarter, missing the consensus estimate of $1.17 per ($0.01). The company posted revenue of $2.51 billion for the quarter, versus $2.61 billion expected by analysts. CNA Financial posted a net margin of 10.09% and a return on equity of 9.47%. In the same quarter last year, the company posted EPS of $0.96. On average, analysts expect CNA Financial to post EPS of $4 for the current fiscal year and EPS of $4 for the next fiscal year.
CNA Financial Stock Performance
CNA Financial Action opened at $42.46 on Monday. The stock has a market capitalization of $11.52 billion, a P/E ratio of 9.61, a price-to-earnings growth ratio of 2.12 and a beta of 0.73. The company’s fifty-day moving average price is $44.22 and its 200-day moving average price is $45.92. CNA Financial has a fifty-two week low of $41.44 and a fifty-two week high of $50.33. The company has a debt ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25.
CNA Financial increases its dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 2. Investors of record on Monday, May 16 received a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, May 13. This is a boost from CNA Financial’s previous quarterly dividend of $0.38. CNA Financial’s dividend payout ratio (DPR) is currently 36.20%.
Analysts set new price targets
Separately, StockNews.com upgraded CNA Financial shares from a “hold” rating to a “buy” rating in a research report on Saturday.
Insider buying and selling
In other CNA Financial news, Director Michael A. Bless bought 2,500 shares of the company in a transaction that took place on Tuesday, May 10. The shares were purchased at an average price of $44.18 per share, for a total transaction of $110,450.00. As a result of the transaction, the administrator now directly owns 2,500 shares of the company, valued at $110,450. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Separately, director Michael A. Bless acquired 2,500 shares of the company in a transaction on Tuesday, May 10. The shares were purchased at an average price of $44.18 per share, for a total transaction of $110,450.00. Following the completion of the transaction, the director now owns 2,500 shares of the company, valued at $110,450. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, VPE Daniel Paul Franzetti sold 9,486 shares of the company in a trade dated Tuesday, May 24. The shares were sold at an average price of $44.79, for a total transaction of $424,877.94. Following the completion of the transaction, the executive vice president now owns 41,830 shares of the company, valued at approximately $1,873,565.70. Disclosure of this sale can be found here. 0.24% of the shares are held by insiders.
Hedge funds weigh on CNA Financial
A number of hedge funds have recently changed their holdings of CNAs. Geneos Wealth Management Inc. increased its position in CNA Financial shares by 258.1% in the first quarter. Geneos Wealth Management Inc. now owns 555 shares of the insurance provider valued at $26,000 after acquiring an additional 400 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of CNA Financial during Q1 worth approximately $27,000. Captrust Financial Advisors increased its stake in CNA Financial shares by 263.6% in Q1. Captrust Financial Advisors now owns 1,378 shares of the insurance provider valued at $67,000 after buying 999 additional shares in the last quarter. Bank of Montreal Can purchased a new equity stake in CNA Financial during Q1 valued at approximately $215,000. Finally, Renaissance Technologies LLC purchased a new stake in CNA Financial stock during Q1 valued at approximately $292,000. Hedge funds and other institutional investors own 99.04% of the company’s shares.
About CNA Financial
CNA Financial Corporation offers P&C insurance products to businesses primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The Company provides professional liability coverage and risk management services to a variety of professional firms, including architects, real estate agents, accounting firms and law firms; directors and officers, employment practices, fiduciary and loyalty coverages for small and medium enterprises, public and private companies and non-profit organizations; professional and general liability and associated standard property and casualty coverages for the healthcare sector; bonds and surety bonds; and warranty and alternative risk products.
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