CNA Financial (NYSE:CNA) Rating Lowered to Underperform at Bank of America

CNA Financial (NYSE:CNAGet Free Report) was downgraded by analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $43.00 price objective on the insurance provider’s stock, up from their prior price objective of $39.00. Bank of America‘s price target would indicate a potential downside of 7.43% from the stock’s current price.

Separately, raised CNA Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 8th.

View Our Latest Research Report on CNA Financial

CNA Financial Stock Up 0.8 %

Shares of NYSE CNA opened at $46.45 on Tuesday. CNA Financial has a 1 year low of $36.17 and a 1 year high of $46.96. The firm has a 50-day simple moving average of $42.88 and a two-hundred day simple moving average of $40.97. The company has a market cap of $12.58 billion, a P/E ratio of 10.49, a PEG ratio of 1.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.27 and a quick ratio of 0.27.

CNA Financial (NYSE:CNAGet Free Report) last posted its earnings results on Monday, February 5th. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $2.95 billion. CNA Financial had a return on equity of 14.84% and a net margin of 9.06%. During the same quarter last year, the firm earned $1.01 earnings per share. Research analysts anticipate that CNA Financial will post 5.13 earnings per share for the current year.

Hedge Funds Weigh In On CNA Financial

Institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in CNA Financial by 89.2% during the second quarter. Quantinno Capital Management LP now owns 20,885 shares of the insurance provider’s stock worth $807,000 after buying an additional 9,845 shares during the last quarter. Comerica Bank bought a new stake in shares of CNA Financial in the second quarter valued at approximately $199,770,000. Bank of Montreal Can purchased a new position in CNA Financial during the 2nd quarter valued at about $255,000. Private Management Group Inc. grew its holdings in CNA Financial by 8.3% during the 3rd quarter. Private Management Group Inc. now owns 875,207 shares of the insurance provider’s stock valued at $34,439,000 after buying an additional 66,795 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in CNA Financial during the third quarter valued at $1,485,000. 98.44% of the stock is currently owned by institutional investors and hedge funds.

About CNA Financial

(Get Free Report)

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.

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