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 #1 (Strong Buy), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here. 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 82 cents per share, and the company reported EPS of $1.05 per share.
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Dec 31, 2017, was 95.8%, improving 250 bps from the year-ago quarter.
• Core income was $286 million, which improved 29.4% from the year-ago quarter.
• Book value (excluding AOCI) as of Dec 31, 2017 was $45.02 per share, up 0.3% from Dec 31, 2016.
• Quarterly dividend declared was 30 cents per share and special dividend was $2 per share.
Check back later for our full write up on this CNA earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>