Zacks Research Weighs in on CNA Financial Co.’s Q2 2024 Earnings (NYSE:CNA)

CNA Financial Co. (NYSE:CNA) – Stock analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for CNA Financial in a research report issued to clients and investors on Tuesday, June 25th. Zacks Research analyst T. De now forecasts that the insurance provider will earn $1.19 per share for the quarter, down from their prior forecast of $1.23. The consensus estimate for CNA Financial’s current full-year earnings is $4.93 per share. Zacks Research also issued estimates for CNA Financial’s Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.22 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.15 EPS and FY2025 earnings at $5.07 EPS.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of CNA Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com upgraded shares of CNA Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 16th.

CNA Financial Trading Up 0.6 %

CNA opened at $45.05 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. CNA Financial has a 52 week low of $37.54 and a 52 week high of $47.37. The stock has a market cap of $12.22 billion, a PE ratio of 9.84, a PEG ratio of 2.70 and a beta of 0.65. The business has a 50 day moving average of $44.50 and a 200-day moving average of $43.98.

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

CNA Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from CNA Financial’s previous quarterly dividend of $0.42. CNA Financial’s dividend payout ratio is currently 38.43%.

Insider Activity

In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the business’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 value 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 approximately $2,865,740.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of CNA Financial

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in CNA Financial during the fourth quarter valued at $14,296,000. Donald Smith & CO. Inc. lifted its stake in shares of CNA Financial by 20.3% in 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 period. New York State Common Retirement Fund boosted its holdings 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 worth $12,968,000 after buying an additional 148,174 shares during the last quarter. Edgestream Partners L.P. grew its position in CNA Financial by 229.0% during the first quarter. Edgestream Partners L.P. now owns 113,901 shares of the insurance provider’s stock valued at $5,173,000 after buying an additional 79,280 shares during the period. Finally, GSA Capital Partners LLP increased its stake in shares of CNA Financial by 232.1% in the 3rd quarter. GSA Capital Partners LLP now owns 46,620 shares of the insurance provider’s stock worth $1,834,000 after purchasing an additional 32,583 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.