CNA Financial (NYSE:CNA) Sets New 1-Year High – Here’s Why

CNA Financial Corporation (NYSE:CNA) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.86 and last traded at $51.8460, with a volume of 587680 shares changing hands. The stock had previously closed at $51.68.

Analyst Ratings Changes

A number of analysts have commented on CNA shares. Weiss Ratings raised shares of CNA Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Zacks Research downgraded shares of CNA Financial from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.

CNA Financial Price Performance

The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.27. The firm has a market cap of $13.77 billion, a PE ratio of 11.39, a P/E/G ratio of 7.09 and a beta of 0.28. The firm’s fifty day simple moving average is $45.47 and its two-hundred day simple moving average is $46.74.

CNA Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.47). The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $2.93 billion. CNA Financial had a return on equity of 11.57% and a net margin of 8.08%.During the same period last year, the company earned $1.03 earnings per share. As a group, research analysts expect that CNA Financial Corporation will post 4.05 EPS for the current year.

CNA Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Monday, May 18th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.92 annualized dividend and a yield of 3.8%. CNA Financial’s dividend payout ratio is currently 42.95%.

Institutional Investors Weigh In On CNA Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. lifted its position in shares of CNA Financial by 5.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,972 shares of the insurance provider’s stock valued at $190,000 after acquiring an additional 211 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of CNA Financial by 6.8% during the second quarter. Lazard Asset Management LLC now owns 3,957 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 253 shares in the last quarter. Focus Partners Wealth raised its stake in CNA Financial by 2.9% during the 3rd quarter. Focus Partners Wealth now owns 9,305 shares of the insurance provider’s stock valued at $432,000 after purchasing an additional 258 shares during the period. Whittier Trust Co. raised its stake in CNA Financial by 13.8% during the 1st quarter. Whittier Trust Co. now owns 2,275 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 275 shares during the period. Finally, Uncommon Cents Investing LLC lifted its holdings in CNA Financial by 1.1% in the 4th quarter. Uncommon Cents Investing LLC now owns 26,750 shares of the insurance provider’s stock worth $1,277,000 after purchasing an additional 295 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

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.