Q3 2024 Earnings Estimate for CNA Financial Co. (NYSE:CNA) Issued By Zacks Research

CNA Financial Co. (NYSE:CNA) – Analysts at Zacks Research upped their Q3 2024 earnings per share estimates for CNA Financial in a note issued to investors on Thursday, July 18th. Zacks Research analyst T. De now forecasts that the insurance provider will post earnings per share of $1.23 for the quarter, up from their previous forecast of $1.22. The consensus estimate for CNA Financial’s current full-year earnings is $4.96 per share. Zacks Research also issued estimates for CNA Financial’s Q4 2024 earnings at $1.23 EPS, FY2024 earnings at $4.95 EPS, Q3 2025 earnings at $1.10 EPS and Q4 2025 earnings at $1.17 EPS.

CNA has been the subject of several other research reports. Keefe, Bruyette & Woods increased 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. StockNews.com upgraded CNA Financial from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th.

CNA Financial Price Performance

Shares of NYSE CNA opened at $47.27 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a fifty day moving average price of $45.29 and a 200 day moving average price of $44.56. CNA Financial has a 1-year low of $37.95 and a 1-year high of $49.52. The company has a market cap of $12.82 billion, a PE ratio of 10.32, a P/E/G ratio of 2.84 and a beta of 0.64.

CNA Financial (NYSE:CNA) last issued its quarterly 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 period in the prior year, the business earned $1.19 earnings per share.

CNA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Monday, May 20th were given a $0.44 dividend. This is a boost from CNA Financial’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, May 17th. This represents a $1.76 annualized dividend and a yield of 3.72%. CNA Financial’s dividend payout ratio is presently 38.43%.

Insiders Place Their Bets

In other news, CAO Daniel Paul Franzetti sold 23,301 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $44.78, for a total value of $1,043,418.78. Following the completion of the transaction, the chief accounting officer now owns 63,996 shares in the company, valued at $2,865,740.88. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its position in shares of CNA Financial by 20.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,178,228 shares of the insurance provider’s stock valued at $49,851,000 after buying an additional 199,209 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CNA Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 706,279 shares of the insurance provider’s stock valued at $32,079,000 after buying an additional 7,201 shares in the last quarter. CORDA Investment Management LLC. increased its position in CNA Financial by 0.4% during the 4th quarter. CORDA Investment Management LLC. now owns 631,186 shares of the insurance provider’s stock worth $26,705,000 after purchasing an additional 2,775 shares in the last quarter. Norges Bank purchased a new stake in CNA Financial during the 4th quarter worth about $14,296,000. Finally, Charles Schwab Investment Management Inc. increased its position in CNA Financial by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 336,898 shares of the insurance provider’s stock worth $14,254,000 after purchasing an additional 5,922 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.