CNA Financial Co. (NYSE:CNA) to Post Q1 2024 Earnings of $1.44 Per Share, William Blair Forecasts

CNA Financial Co. (NYSE:CNAFree Report) – Research analysts at William Blair reduced their Q1 2024 earnings per share estimates for shares of CNA Financial in a report released on Tuesday, February 6th. William Blair analyst A. Klauber now anticipates that the insurance provider will post earnings per share of $1.44 for the quarter, down from their prior forecast of $1.48. The consensus estimate for CNA Financial’s current full-year earnings is $5.26 per share. William Blair also issued estimates for CNA Financial’s Q2 2024 earnings at $1.23 EPS, FY2024 earnings at $5.18 EPS and FY2025 earnings at $5.33 EPS.

Other research analysts also recently issued research reports about the stock. downgraded shares of CNA Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America downgraded CNA Financial from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $39.00 to $43.00 in a research note on Tuesday.

Check Out Our Latest Research Report on CNA

CNA Financial Trading Up 0.8 %

Shares of NYSE:CNA opened at $46.45 on Thursday. CNA Financial has a 12-month low of $36.17 and a 12-month high of $46.96. The company has a market cap of $12.58 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.75 and a beta of 0.63. The stock has a 50 day moving average of $42.88 and a 200 day moving average of $40.97. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.29.

CNA Financial (NYSE:CNAGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. CNA Financial had a net margin of 9.06% and a return on equity of 14.84%. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the firm posted $1.01 EPS.

CNA Financial Increases Dividend

The business also recently declared a None dividend, which will be paid on Thursday, March 7th. Shareholders of record on Tuesday, February 20th will be issued a $2.44 dividend. This is an increase from CNA Financial’s previous None dividend of $1.62. This represents a yield of 3.8%. The ex-dividend date is Friday, February 16th. CNA Financial’s payout ratio is currently 37.92%.

Hedge Funds Weigh In On CNA Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Loews Corp grew its stake in shares of CNA Financial by 1.8% in the 3rd quarter. Loews Corp now owns 248,414,738 shares of the insurance provider’s stock worth $9,775,120,000 after buying an additional 4,456,050 shares in the last quarter. Comerica Bank bought a new stake in CNA Financial during the second quarter worth approximately $199,770,000. Norges Bank purchased a new stake in CNA Financial during the fourth quarter valued at approximately $14,273,000. AQR Capital Management LLC lifted its stake in shares of CNA Financial by 174.8% in the 1st quarter. AQR Capital Management LLC now owns 466,973 shares of the insurance provider’s stock valued at $18,161,000 after purchasing an additional 297,030 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CNA Financial by 19.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,405,797 shares of the insurance provider’s stock worth $54,292,000 after purchasing an additional 233,346 shares during the period. 98.44% of the stock is owned by institutional investors.

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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Earnings History and Estimates for CNA Financial (NYSE:CNA)

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