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 holds a Zacks Rank #2 (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 (Strong Buy) 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 $1.13 per share, and the company reported EPS of $1.17 per share.
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Sep 30, 2018, was 94.8%, deteriorating 20 bps from the year-ago quarter.
• Core income was $317 million, which skyrocketed 99.4% from the year-ago quarter.
• Book value (excluding AOCI) as of Sep 30, 2018 was $45.20 per share, up 0.4% from Dec 31, 2017.
• Quarterly dividend declared was 35 cents per share.
Check back later for our full write up on this CNA earnings report later!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>