CNA Financial downgraded by BofA Securities with a new price target
$CNA
Property-Casualty Insurers
Finance
BofA Securities downgraded CNA Financial from Neutral to Underperform and set a new price target of $43.00 from $39.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/6/2024 | $39.00 → $43.00 | Neutral → Underperform | BofA Securities |
| 7/11/2023 | Outperform → Mkt Perform | Keefe Bruyette | |
| 5/3/2023 | $40.00 → $41.00 | Underperform → Neutral | BofA Securities |
13F-HR - CNA FINANCIAL CORP (0000021175) (Filer)
10-Q - CNA FINANCIAL CORP (0000021175) (Filer)
8-K - CNA FINANCIAL CORP (0000021175) (Filer)
Net income up 10% to $283 million versus $258 million in the prior year quarter; core income of $293 million versus $289 million in the prior year quarter. Year to date core income up 6% to a record $974 million.P&C core income of $346 million versus $351 million, reflects the largely offsetting impacts of higher catastrophe losses and higher investment income.Life & Group core loss of $9 million versus $29 million in the prior year quarter, reflects higher investment income.Net investment income up 13% to $626 million pretax, includes a $52 million increase from limited partnerships and common stock to $80 million and a $21 million increase from fixed income securities and other investments
NEW YORK, Nov. 4, 2024 /PRNewswire/ -- Loews Corporation (NYSE:L) today released its third quarter 2024 financial results. Third Quarter 2024 highlights:Loews Corporation reported net income of $401 million, or $1.82 per share, in the third quarter of 2024, compared to $253 million, or $1.12 per share, in the third quarter of 2023. Excluding the prior year third quarter's $37 million charge for the termination of Loews's defined benefit pension plan, net income grew 38% year-over-year due to increases at CNA, Boardwalk and investment income at the parent company, offset by a decrease at Loews Hotels. The following are key highlights: CNA Financial Corporation's (NYSE:CNA) net income attribu
CHICAGO, Oct. 15, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE:CNA) will report third quarter 2024 results before the market opens on Monday, November 4, 2024. The news release, earnings presentation and financial supplement will be available on CNA's website at www.cna.com via the Investor Relations section. Along with these documents CNA will post a transcript of earnings remarks, which will include commentary from the Company's Chairman & Chief Executive Officer, Dino Robusto, and Chief Financial Officer, Scott Lindquist. CNA invites shareholders and analysts to submit questions for management in advance of the earnings release. Management may address some or all of these question
CNA Financial Corporation (NYSE:CNA) announced today that Executive Vice President & Global Head of Underwriting Doug Worman will become President and Chief Executive Officer of the company as of January 1, 2025. At that time, Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman of CNA's Board of Directors. In this role, Robusto will lead the board as well as serve as a strategic advisor to Worman in pursuit of the company's objectives.
The stock market is poised to mark a third consecutive session of gains, with major indices all trading in the green during midday trading in New York on Monday, as traders continue to react positively to quarterly earnings and the Federal Reserve’s unexpectedly dovish stance in its latest meeting. For Q1 2024, 80% of S&P 500 companies have disclosed actual results, with over three quarters of them surpassing EPS estimates and 61% exceeding revenue estimates, according to FactSet. The S&P 500 rose by 0.4%, with the tech-heavy Nasdaq 100 showing a similar daily surge. Small caps, as measured by the iShares Russell 2000 ETF Trust (NYSE:IWM), outperformed large caps, rising by 1.2%. Pa
Loews Corp (NYSE:L) reported first-quarter FY24 net income of $457 million, up 22% Y/Y. EPS of $2.05 was higher than the year-ago figure of $1.61. Revenues were $4.23 billion, higher than $3.78 billion a year ago. CNA Financial Corp (NYSE:CNA) revenue contribution increased to $3.44 billion from $3.15 billion a year ago, and net income rose to $310 million from $268 million a year ago. CNA’s net income benefited from higher net investment income and favorable net prior-year loss reserve development. Boardwalk Pipelines segment’s revenues rose to $517 million from $397 million in the year-ago quarter, and net income rose to $121 million from $86 million the prior year. Broadwa
James Tisch to retire as President & CEO as of December 31, 2024;Loews Board elects Benjamin Tisch as President & CEO; James Tisch will become Chairman of the Board of Directors NEW YORK, July 29, 2024 /PRNewswire/ -- Loews Corporation (NYSE:L) announced today that, as part of its leadership succession plan, on December 31, 2024, James Tisch will retire as President and CEO and will be succeeded by Benjamin Tisch, current Senior Vice President, Corporate Development and Strategy. As part of the leadership transition, James Tisch will become Chairman of the Board of Directors, and Benjamin Tisch and Loews Hotels & Co's CEO Alexander Tisch will join the Board. Also, Andrew Tisch and Jonathan
CHICAGO, June 5, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE:CNA) announced today that Executive Vice President & Global Head of Underwriting Doug Worman will become President and Chief Executive Officer of the company as of January 1, 2025. At that time, Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman of CNA's Board of Directors. In this role, Robusto will lead the board as well as serve as a strategic advisor to Worman in pursuit of the company's objectives. "We are extremely thankful to Dino who over the past 8 years has worked tirelessly to lead the company to record levels of profitability and top quartile underwriting performanc
CHICAGO, June 15, 2023 /PRNewswire/ -- CNA today announced the appointment of Dan Franzetti to a newly created position of Chief Administrative Officer, reporting to Dino Robusto. In this role, Franzetti will have oversight for a broad set of enterprise strategic functions including the global claims and legal organizations, compliance, government relations and a number of corporate services functions. "The addition of a Chief Administrative Officer is an important next step in the evolution of CNA's executive leadership team, and I am confident that Dan will bring the same level of impactful leadership as he did in his role as Global Head of Claims at CNA." Robusto said. "Dan's breadth of e
BofA Securities downgraded CNA Financial from Neutral to Underperform and set a new price target of $43.00 from $39.00 previously
Keefe Bruyette downgraded CNA Financial from Outperform to Mkt Perform
BofA Securities upgraded CNA Financial from Underperform to Neutral and set a new price target of $41.00 from $40.00 previously
4 - CNA FINANCIAL CORP (0000021175) (Issuer)
4 - CNA FINANCIAL CORP (0000021175) (Issuer)
4 - CNA FINANCIAL CORP (0000021175) (Issuer)
Net income up 10% to $283 million versus $258 million in the prior year quarter; core income of $293 million versus $289 million in the prior year quarter. Year to date core income up 6% to a record $974 million.P&C core income of $346 million versus $351 million, reflects the largely offsetting impacts of higher catastrophe losses and higher investment income.Life & Group core loss of $9 million versus $29 million in the prior year quarter, reflects higher investment income.Net investment income up 13% to $626 million pretax, includes a $52 million increase from limited partnerships and common stock to $80 million and a $21 million increase from fixed income securities and other investments
NEW YORK, Nov. 4, 2024 /PRNewswire/ -- Loews Corporation (NYSE:L) today released its third quarter 2024 financial results. Third Quarter 2024 highlights:Loews Corporation reported net income of $401 million, or $1.82 per share, in the third quarter of 2024, compared to $253 million, or $1.12 per share, in the third quarter of 2023. Excluding the prior year third quarter's $37 million charge for the termination of Loews's defined benefit pension plan, net income grew 38% year-over-year due to increases at CNA, Boardwalk and investment income at the parent company, offset by a decrease at Loews Hotels. The following are key highlights: CNA Financial Corporation's (NYSE:CNA) net income attribu
CHICAGO, Oct. 21, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE:CNA) today announced that it expects to report pretax net catastrophe losses in the third quarter 2024 of $143 million. Approximately 75% of the catastrophe losses are associated with four larger events, including $55 million from Hurricane Helene. The remaining approximately $35 million of losses is spread across a number of additional events occurring during the quarter. Catastrophe losses are comprised of $127 million in the Commercial segment and $16 million in the International segment. The combined ratio impact of this third quarter catastrophe result is in line with CNA's third quarter average over the last five ye