CNA Financial (NYSE:CNA) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of CNA Financial (NYSE:CNA) from a buy rating to a hold rating in a report released on Saturday morning.

CNA has been the topic of several other research reports. Zacks Research upgraded CNA Financial from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of CNA Financial in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, CNA Financial currently has an average rating of “Hold” and an average target price of $53.00.

CNA Financial Stock Performance

Shares of NYSE:CNA opened at $47.41 on Friday. The firm has a 50 day moving average of $46.23 and a 200 day moving average of $46.28. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 3.93 and a beta of 0.37. CNA Financial has a 52 week low of $43.29 and a 52 week high of $51.34.

CNA Financial (NYSE:CNA) last announced its quarterly earnings results 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. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. CNA Financial had a return on equity of 12.78% and a net margin of 6.71%.During the same period last year, the business posted $1.08 EPS. On average, sell-side analysts predict that CNA Financial will post 4.64 earnings per share for the current fiscal year.

CNA Financial Dividend Announcement

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

Insider Transactions at CNA Financial

In other CNA Financial news, Chairman Dino Robusto sold 6,250 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $46.92, for a total value of $293,250.00. Following the completion of the transaction, the chairman owned 668,088 shares of the company’s stock, valued at approximately $31,346,688.96. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

Institutional Trading of CNA Financial

Several large investors have recently made changes to their positions in CNA. Alpine Bank Wealth Management lifted its position in CNA Financial by 70.0% during the third quarter. Alpine Bank Wealth Management now owns 556 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 229 shares during the period. Covestor Ltd lifted its holdings in shares of CNA Financial by 129.7% in the 3rd quarter. Covestor Ltd now owns 712 shares of the insurance provider’s stock valued at $33,000 after buying an additional 402 shares during the period. Allworth Financial LP boosted its stake in shares of CNA Financial by 102.3% in the second quarter. Allworth Financial LP now owns 785 shares of the insurance provider’s stock worth $37,000 after buying an additional 397 shares during the last quarter. Ameriflex Group Inc. grew its holdings in 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 raised its position in CNA Financial by 240.3% during the second 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 owned by hedge funds and other institutional investors.

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.