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 #4 (Sell), 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 missed estimates as Zacks Consensus Estimate for core income was 81 cents per share while the company reported core loss of 8 cents per share.
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Dec 31, 2018, was 98%, deteriorating 220 bps from the year-ago quarter.
• Core income was $16 million, which plummeted 94% from the year-ago quarter.
• Book value (excluding AOCI) as of Dec 31, 2018 was $44.55 per share, down 1% from Dec 31, 2017.
• Quarterly dividend declared was 35 cents per share and special dividend was $2 per share.
Check back later for our full write up on this CNA earnings report later!
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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