CNA Financial (NYSE:CNA) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

CNA Financial Corporation (NYSE:CNA) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $46.48 and traded as high as $48.44. CNA Financial shares last traded at $48.38, with a volume of 663,314 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of CNA Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Zacks Research lowered CNA Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

CNA Financial Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.26. The firm’s 50-day moving average price is $45.03 and its two-hundred day moving average price is $46.48. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 6.71 and a beta of 0.30.

CNA Financial (NYSE:CNA) last released its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.47). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $2.93 billion. CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.During the same quarter in the previous year, the business posted $1.03 earnings per share. On average, analysts expect that CNA Financial Corporation will post 4.03 EPS for the current fiscal year.

CNA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Monday, May 18th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, May 18th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.0%. CNA Financial’s dividend payout ratio (DPR) is currently 42.95%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in CNA Financial by 12.3% during the first quarter. Parallel Advisors LLC now owns 7,080 shares of the insurance provider’s stock worth $325,000 after acquiring an additional 774 shares during the last quarter. Bank of America Corp DE raised its holdings in CNA Financial by 41.9% in the 1st quarter. Bank of America Corp DE now owns 135,873 shares of the insurance provider’s stock valued at $6,239,000 after buying an additional 40,130 shares during the period. Edgestream Partners L.P. raised its holdings in CNA Financial by 1.2% in the 1st quarter. Edgestream Partners L.P. now owns 119,038 shares of the insurance provider’s stock valued at $5,466,000 after buying an additional 1,428 shares during the period. Royal Bank of Canada raised its holdings in CNA Financial by 18.0% in the 1st quarter. Royal Bank of Canada now owns 7,222 shares of the insurance provider’s stock valued at $331,000 after buying an additional 1,103 shares during the period. Finally, Quantinno Capital Management LP lifted its position in CNA Financial by 48.9% in the first quarter. Quantinno Capital Management LP now owns 685,247 shares of the insurance provider’s stock valued at $31,467,000 after buying an additional 225,030 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

CNA Financial Company Profile

CNA Financial Corporation is a leading U.S.-based commercial property and casualty insurance company offering a broad portfolio of risk management and insurance solutions. The company underwrites coverage for businesses of all sizes across a variety of industry sectors, including manufacturing, healthcare, energy, technology, construction and real estate. In addition to core property and casualty insurance, CNA delivers specialized products such as surety bonds, professional liability, environmental liability and commercial auto coverage.

Headquartered in Chicago, Illinois, CNA traces its origins to the founding of Continental Casualty Company in 1897.