Keefe, Bruyette & Woods Cuts CNA Financial (NYSE:CNA) Price Target to $54.00

CNA Financial (NYSE:CNA) had its price target dropped by Keefe, Bruyette & Woods from $55.00 to $54.00 in a report released on Friday,Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 17.96% from the company’s previous close.

Several other brokerages also recently commented on CNA. Bank of America boosted their price objective on CNA Financial from $45.00 to $48.00 and gave the company an “underperform” rating in a research report on Thursday, October 10th. StockNews.com raised CNA Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

CNA Financial Price Performance

NYSE CNA opened at $45.78 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.28. CNA Financial has a 12 month low of $41.64 and a 12 month high of $52.36. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 6.20 and a beta of 0.67. The company’s 50 day moving average is $48.64 and its two-hundred day moving average is $48.73.

CNA Financial (NYSE:CNA) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.07 by $0.01. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.15 billion. CNA Financial had a net margin of 9.26% and a return on equity of 13.30%. During the same period last year, the firm earned $1.06 EPS. As a group, research analysts anticipate that CNA Financial will post 4.68 earnings per share for the current year.

Insider Buying and Selling at CNA Financial

In other news, EVP Douglas Worman sold 22,973 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $48.75, for a total transaction of $1,119,933.75. Following the sale, the executive vice president now directly owns 133,777 shares in the company, valued at approximately $6,521,628.75. This represents a 14.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CNA Financial

Large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its stake in shares of CNA Financial by 366.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,401,539 shares of the insurance provider’s stock valued at $68,591,000 after purchasing an additional 1,101,217 shares during the last quarter. AQR Capital Management LLC lifted its position in CNA Financial by 97.9% in the second quarter. AQR Capital Management LLC now owns 1,152,528 shares of the insurance provider’s stock worth $51,760,000 after buying an additional 570,172 shares during the last quarter. River Road Asset Management LLC boosted its stake in CNA Financial by 0.6% during the third quarter. River Road Asset Management LLC now owns 1,012,492 shares of the insurance provider’s stock worth $49,551,000 after buying an additional 5,539 shares during the period. Jane Street Group LLC boosted its stake in CNA Financial by 158.0% during the third quarter. Jane Street Group LLC now owns 288,443 shares of the insurance provider’s stock worth $14,116,000 after buying an additional 176,649 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of CNA Financial in the third quarter valued at $7,585,000. 98.45% of the stock is owned by institutional investors.

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.