Q3 2024 EPS Estimates for CNA Financial Co. (NYSE:CNA) Lifted by Zacks Research

CNA Financial Co. (NYSE:CNAFree Report) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for shares of CNA Financial in a note issued to investors on Monday, May 20th. Zacks Research analyst T. De now expects that the insurance provider will earn $1.16 per share for the quarter, up from their prior forecast of $1.11. The consensus estimate for CNA Financial’s current full-year earnings is $5.00 per share. Zacks Research also issued estimates for CNA Financial’s Q4 2024 earnings at $1.17 EPS, Q1 2025 earnings at $1.51 EPS, Q2 2025 earnings at $1.33 EPS, Q3 2025 earnings at $1.05 EPS and FY2025 earnings at $5.00 EPS.

CNA Financial (NYSE:CNAGet Free Report) last released its quarterly earnings results on Monday, May 6th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.07). CNA Financial had a return on equity of 14.27% and a net margin of 9.17%. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the company posted $1.19 EPS.

Several other research analysts have also recently issued reports on CNA. Bank of America cut shares of CNA Financial from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $39.00 to $43.00 in a report on Tuesday, February 6th. Keefe, Bruyette & Woods increased their price target on CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Finally, StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.

View Our Latest Report on CNA Financial

CNA Financial Stock Down 0.8 %

CNA Financial stock opened at $44.58 on Tuesday. CNA Financial has a 52 week low of $36.41 and a 52 week high of $47.37. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 1.78 and a beta of 0.63. The company’s 50-day moving average price is $44.25 and its two-hundred day moving average price is $43.33. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31.

CNA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Monday, May 20th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.76 annualized dividend and a dividend yield of 3.95%. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. CNA Financial’s payout ratio is currently 38.43%.

Insider Buying and Selling

In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $44.78, for a total transaction of $1,043,418.78. Following the completion of the sale, the chief accounting officer now directly owns 63,996 shares in the company, valued at $2,865,740.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On CNA Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co acquired a new stake in CNA Financial during the 4th quarter worth about $25,000. Blue Trust Inc. purchased a new position in shares of CNA Financial in the fourth quarter worth approximately $27,000. GAMMA Investing LLC acquired a new stake in shares of CNA Financial during the fourth quarter valued at approximately $39,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of CNA Financial during the fourth quarter valued at approximately $48,000. Finally, Covestor Ltd lifted its position in shares of CNA Financial by 36.2% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the insurance provider’s stock valued at $75,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

CNA Financial Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for CNA Financial (NYSE:CNA)

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