CNA Financial (NYSE:CNA) Price Target Raised to $53.00 at Keefe, Bruyette & Woods

CNA Financial (NYSE:CNA) had its price objective boosted by Keefe, Bruyette & Woods from $48.00 to $53.00 in a report issued on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the insurance provider’s stock.

Separately, StockNews.com raised shares of CNA Financial from a hold rating to a buy rating in a research report on Thursday, May 16th.

CNA Financial Stock Performance

Shares of NYSE:CNA opened at $48.89 on Thursday. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 3.34 and a beta of 0.64. CNA Financial has a fifty-two week low of $37.95 and a fifty-two week high of $50.79. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50 day simple moving average is $45.95 and its 200 day simple moving average is $44.90.

CNA Financial (NYSE:CNA) last announced its earnings results on Monday, July 29th. The insurance provider reported $1.19 EPS for the quarter, hitting the consensus estimate of $1.19. CNA Financial had a net margin of 9.27% and a return on equity of 14.02%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company posted $1.13 EPS. As a group, sell-side analysts forecast that CNA Financial will post 4.87 earnings per share for the current year.

CNA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, August 12th. CNA Financial’s dividend payout ratio (DPR) is presently 38.43%.

Insider Activity

In other CNA Financial news, CAO Daniel Paul Franzetti sold 23,301 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $44.78, for a total transaction of $1,043,418.78. Following the transaction, the chief accounting officer now owns 63,996 shares of the company’s stock, valued at $2,865,740.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Susan Ann Stone 6,674 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Paul Franzetti sold 23,301 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 63,996 shares in the company, valued at $2,865,740.88. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On CNA Financial

Several hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. lifted its holdings in CNA Financial by 20.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,178,228 shares of the insurance provider’s stock worth $49,851,000 after purchasing an additional 199,209 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of CNA Financial by 93.6% in the fourth quarter. New York State Common Retirement Fund now owns 306,500 shares of the insurance provider’s stock valued at $12,968,000 after acquiring an additional 148,174 shares in the last quarter. Entropy Technologies LP bought a new position in CNA Financial during the first quarter worth about $520,000. Norges Bank acquired a new stake in CNA Financial in the 4th quarter worth about $14,296,000. Finally, Wakefield Asset Management LLLP bought a new stake in CNA Financial in the 4th quarter valued at about $418,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

About CNA Financial

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.