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

CNA Financial Co. (NYSE:CNA) – Equities research analysts at Zacks Research decreased their Q2 2024 earnings per share estimates for shares of CNA Financial in a note issued to investors on Tuesday, June 25th. Zacks Research analyst T. De now expects that the insurance provider will earn $1.19 per share for the quarter, down from their prior estimate 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.

CNA Financial (NYSE:CNA) last issued its earnings results on Monday, May 6th. The insurance provider reported $1.30 earnings per share 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 company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share.

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

CNA Financial Trading Up 2.1 %

Shares of CNA stock opened at $46.01 on Friday. The stock has a market cap of $12.48 billion, a P/E ratio of 10.05, a P/E/G ratio of 2.71 and a beta of 0.65. CNA Financial has a fifty-two week low of $37.54 and a fifty-two week high of $47.37. The business has a fifty day simple moving average of $44.53 and a 200-day simple moving average of $44.01. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNA. GAMMA Investing LLC grew its stake in CNA Financial by 28.5% during the first quarter. GAMMA Investing LLC now owns 1,144 shares of the insurance provider’s stock worth $52,000 after buying an additional 254 shares during the period. Signaturefd LLC increased its holdings in CNA Financial by 12.7% in the 4th quarter. Signaturefd LLC now owns 2,994 shares of the insurance provider’s stock valued at $127,000 after purchasing an additional 337 shares in the last quarter. Abich Financial Wealth Management LLC raised its position 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 valued at $80,000 after purchasing an additional 494 shares during the period. Hillsdale Investment Management Inc. lifted its stake in shares of CNA Financial by 5.0% during the first quarter. Hillsdale Investment Management Inc. now owns 11,360 shares of the insurance provider’s stock worth $516,000 after purchasing an additional 540 shares in the last quarter. Finally, CENTRAL TRUST Co purchased a new stake in shares of CNA Financial in the fourth quarter worth about $25,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CNA Financial

In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the stock in a transaction dated 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 directly owns 63,996 shares in the company, valued at $2,865,740.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

CNA Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Monday, May 20th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, May 17th. This is a positive change from CNA Financial’s previous quarterly dividend of $0.42. CNA Financial’s payout ratio is currently 38.43%.

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.