Langen Mcalenn Analysts Reduce Earnings Estimates for CNA Financial Corporation (CNA)
CNA Financial Corporation (NYSE:CNA) – Stock analysts at Langen Mcalenn lowered their FY2017 EPS estimates for shares of CNA Financial Corporation in a report issued on Monday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the insurance provider will post earnings per share of $2.65 for the year, down from their previous estimate of $2.75.
CNA Financial Corporation (NYSE:CNA) last announced its quarterly earnings data on Monday, October 30th. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.27). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.37 billion. CNA Financial Corporation had a return on equity of 7.14% and a net margin of 9.67%. During the same period in the previous year, the business earned $1.15 EPS. COPYRIGHT VIOLATION NOTICE: “Langen Mcalenn Analysts Reduce Earnings Estimates for CNA Financial Corporation (CNA)” was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://theolympiareport.com/2017/11/02/langen-mcalenn-analysts-reduce-earnings-estimates-for-cna-financial-corporation-cna.html.
CNA has been the topic of several other reports. Zacks Investment Research lowered shares of CNA Financial Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub lowered shares of CNA Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 target price on shares of CNA Financial Corporation in a report on Thursday, September 21st. Finally, ValuEngine raised shares of CNA Financial Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.67.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC lifted its position in CNA Financial Corporation by 111.1% during the second quarter. Acrospire Investment Management LLC now owns 2,090 shares of the insurance provider’s stock valued at $102,000 after buying an additional 1,100 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of CNA Financial Corporation by 3.6% during the second quarter. Parallel Advisors LLC now owns 3,131 shares of the insurance provider’s stock worth $163,000 after purchasing an additional 110 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of CNA Financial Corporation by 6.1% during the first quarter. SG Americas Securities LLC now owns 3,914 shares of the insurance provider’s stock worth $173,000 after purchasing an additional 224 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of CNA Financial Corporation during the second quarter worth $203,000. Finally, Gotham Asset Management LLC acquired a new position in shares of CNA Financial Corporation during the second quarter worth $221,000. Institutional investors and hedge funds own 99.89% of the company’s stock.
In other CNA Financial Corporation news, CFO D Craig Mense sold 23,450 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $52.66, for a total transaction of $1,234,877.00. Following the completion of the transaction, the chief financial officer now directly owns 130,548 shares in the company, valued at approximately $6,874,657.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, November 10th. CNA Financial Corporation’s dividend payout ratio (DPR) is 35.50%.
About CNA Financial Corporation
CNA Financial Corporation is an insurance holding company. The Company’s segments include Specialty, Commercial, International, Life & Group Non-Core, and Corporate & Other Non-Core. Its Specialty segment provides a range of professional, financial, and specialty property, and casualty products and services.
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