Chicago, Il based CNA Financial Corporation (CNA - Free Report) boasts being the eighth largest commercial insurance writer and the 14th largest property and casualty company in the U.S. The company provides insurance coverage for standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.
CNA Financial has been intensifying its focus on core business and as such has been divesting the non-core operations. Besides aligning International operations, the company is also expanding its underwriting capabilities. CNA Financial remains focused on expense management to facilitate margin expansion.
Currently, CNA Financial carries a Zacks Rank #3 (Hold) You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here, but that could definitely change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
CNA Financial beat estimates. Our consensus called for EPS of 75 cents per share, and the company reported EPS of 88 cents per share.
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Jun 30, 2017, was 94.6%, improving 370 bps from the year-ago quarter.
• Net operating income was $239 million, which climbed 18.9% from the year-ago quarter.
• Book value (excluding AOCI) as of Jun 30, 2017 was $44.26 per share, down 1.4% from Dec 31, 2016.
• Quarterly dividend declared was 30 cents per share.
Check back later for our full write up on this CNA earnings report later!
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