CNA Financial (NYSE:CNA) Posts Quarterly Earnings Results, Meets Estimates

CNA Financial (NYSE:CNA) posted its earnings results on Monday. The insurance provider reported $1.19 earnings per share for the quarter, hitting the consensus estimate of $1.19, Briefing.com reports. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.08 billion. CNA Financial had a return on equity of 14.21% and a net margin of 9.27%. During the same quarter in the previous year, the business earned $1.13 earnings per share.

CNA Financial Stock Performance

NYSE CNA traded down $0.57 on Wednesday, reaching $49.16. The stock had a trading volume of 259,698 shares, compared to its average volume of 259,606. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. CNA Financial has a 12-month low of $37.95 and a 12-month high of $50.79. The business’s 50-day moving average price is $45.75 and its 200 day moving average price is $44.81. The stock has a market cap of $13.34 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 2.96 and a beta of 0.64.

CNA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, August 12th. CNA Financial’s dividend payout ratio is currently 38.43%.

Insider Buying and Selling at CNA Financial

In other news, insider Susan Ann Stone 6,674 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Daniel Paul Franzetti sold 23,301 shares of the company’s stock in a transaction on 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 owns 63,996 shares of the company’s stock, valued at $2,865,740.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Ann Stone 6,674 shares of the stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on CNA Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th.

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.