Bank of America Raises CNA Financial (NYSE:CNA) Price Target to $48.00

CNA Financial (NYSE:CNA) had its target price hoisted by Bank of America from $45.00 to $48.00 in a research report released on Thursday morning, Benzinga reports. They currently have an underperform rating on the insurance provider’s stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on CNA Financial from $48.00 to $53.00 and gave the stock a market perform rating in a research report on Thursday, August 1st.

CNA Financial Trading Up 1.5 %

CNA traded up $0.72 on Thursday, hitting $49.25. 60,073 shares of the company were exchanged, compared to its average volume of 277,186. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a fifty day simple moving average of $49.61 and a two-hundred day simple moving average of $46.67. The stock has a market capitalization of $13.36 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 3.31 and a beta of 0.64. CNA Financial has a 12 month low of $38.32 and a 12 month high of $52.36.

CNA Financial (NYSE:CNA) last issued its earnings results on Monday, July 29th. The insurance provider reported $1.19 earnings per share (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 analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $1.13 earnings per share. Sell-side analysts expect that CNA Financial will post 4.85 earnings per share for the current year.

CNA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.44 per share. The ex-dividend date was Monday, August 12th. This represents a $1.76 annualized dividend and a yield of 3.57%. CNA Financial’s payout ratio is 38.43%.

Insiders Place Their Bets

In other news, EVP Mark Steven James sold 18,547 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $50.58, for a total value of $938,107.26. Following the completion of the transaction, the executive vice president now owns 22,917 shares in the company, valued at $1,159,141.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CNA Financial news, EVP Mark Steven James sold 18,547 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $50.58, for a total value of $938,107.26. Following the completion of the transaction, the executive vice president now owns 22,917 shares in the company, valued at approximately $1,159,141.86. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth Ann Aguinaga sold 26,160 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $49.60, for a total value of $1,297,536.00. Following the transaction, the executive vice president now directly owns 47,744 shares of the company’s stock, valued at $2,368,102.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,151 shares of company stock worth $2,449,311. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CNA Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of CNA. GAMMA Investing LLC lifted its holdings in shares of CNA Financial by 28.5% during the first quarter. GAMMA Investing LLC now owns 1,144 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 254 shares during the last quarter. Fairscale Capital LLC purchased a new position in CNA Financial during the second quarter valued at $55,000. Abich Financial Wealth Management LLC boosted its holdings in CNA Financial by 39.1% in the first quarter. Abich Financial Wealth Management LLC now owns 1,756 shares of the insurance provider’s stock worth $80,000 after acquiring an additional 494 shares in the last quarter. Covestor Ltd grew its stake in shares of CNA Financial by 82.0% in the first quarter. Covestor Ltd now owns 1,971 shares of the insurance provider’s stock worth $90,000 after acquiring an additional 888 shares during the last quarter. Finally, Whittier Trust Co. bought a new position in shares of CNA Financial during the second quarter valued at $92,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

CNA Financial Company Profile

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.