CNA Financial Corp Stock Research

Market Summary

USD38.64+1.54

Market Closed

4.15%

CNA Stock Price

CNA RSI Chart

CNA Valuation

Market Cap

10.5B

Price/Earnings (Trailing)

11.71

Price/Sales (Trailing)

0.88

EV/EBITDA

8.03

Price/Free Cashflow

4.27

CNA Price/Sales (Trailing)

CNA Profitability

EBT Margin

9.10%

Return on Equity

10.13%

Return on Assets

1.47%

Free Cashflow Yield

23.41%

CNA Fundamentals

CNA Revenue

Revenue (TTM)

11.9B

Revenue Y/Y

1.87%

Revenue Q/Q

5.21%

CNA Earnings

Earnings (TTM)

894.0M

Earnings Y/Y

-6.77%

Earnings Q/Q

93.75%

Price Action

52 Week Range

35.5648.92

(Low)(High)

Last 7 days

-11.0%

Last 30 days

-17.4%

Last 90 days

-9.2%

Trailing 12 Months

-18.2%

CNA Financial Health

CNA Investor Care

Dividend Yield

9.32%

Dividend/Share (TTM)

3.6

Buy Backs (1Y)

0.17%

Diluted EPS (TTM)

3.28

Peers (Alternatives to CNA Financial)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
PGR	83.5B	49.6B	-3.33%	25.86%	115.74	1.68	4.00%	-78.47%
TRV	40.0B	36.9B	-11.25%	-6.12%	14.06	1.08	5.94%	-22.39%
AIG	38.3B	56.4B	-22.60%	-17.13%	3.73	0.68	8.41%	9.46%
ALL	29.5B	51.4B	-18.97%	-12.44%	-20.82	0.57	1.63%	-195.35%
RE	24.8B	12.1B	-11.42%	23.49%	41.48	2.05	1.63%	-56.71%
HIG	23.3B	22.4B	-16.76%	-3.54%	11.93	1.05	-0.13%	-23.26%
Y	11.4B	6.8B	0.57%	29.95%	32.11	0.97	-36.57%	-61.35%
AFG	10.2B	7.0B	-13.98%	-9.38%	11.39	1.45	7.45%	-54.99%
MID-CAP
RNR	8.6B	6.3B	-14.12%	28.23%	-8.11	1.36	21.94%	-2542.77%
ESGR	4.0B	-	-8.96%	-17.12%	-4.13	4.2	-80.45%	-283.49%
SMALL-CAP
HMN	1.4B	1.4B	-7.46%	-16.42%	-543.45	1.02	3.97%	-101.82%
PLMR	1.4B	327.1M	6.70%	-11.03%	26.51	4.23	39.88%	13.79%
PRA	1.0B	1.1B	-7.52%	-28.26%	-2.5K	0.91	-1.58%	-100.28%
JRVR	812.7M	813.7M	-5.54%	1.51%	26.24	1	5.28%	117.92%

Financials for CNA Financial

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.5%	11,879	11,822	11,824	11,927	11,908
EBITDA	-2.8%	1,244	1,280	1,431	1,650	-
EBITDA Margin	-3.3%	0.10*	0.11*	0.18*	0.14*	-
Earnings Before Taxes	-3.2%	1,081	1,117	1,267	1,484	1,484
EBT Margin	-3.7%	0.09*	0.09*	0.16*	0.12*	-
Interest Expenses	0%	112	112	112	113	113
Net Income	-2.0%	894	912	1,040	1,203	1,202
Net Income Margin	-2.4%	0.08*	0.08*	0.13*	0.10*	-
Free Cahsflow	-5.1%	2,450	2,582	2,519	2,525	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.2%	60,927	60,215	62,229	63,792	66,639
Cash Equivalents	-5.6%	475	503	560	361	536
Net PPE	-1.3%	226	229	227	225	226
Goodwill	1.4%	144	142	145	147	148
Liabilities	0.0%	52,102	52,121	52,717	52,975	53,830
. Short Term Borrowings	Infinity%	243	-	-	-	-
LT Debt, Non Current	-8.7%	2,538	2,780	2,780	2,779	2,779
Shareholder's Equity	9.0%	8,825	8,094	9,512	10,817	12,809
Retained Earnings	1.5%	9,572	9,433	9,415	9,319	9,663
Additional Paid-In Capital	0.4%	2,220	2,211	2,203	2,195	2,215
Accumulated Depreciation	2.9%	280	272	266	264	255
Shares Outstanding	0.0%	271	271	271	271	271

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-5.0%	2,502	2,633	2,565	2,560	1,997
Cashflow From Investing	11.2%	-1,512	-1,703	-1,457	-1,765	-1,228
Cashflow From Financing	-0.5%	-1,032	-1,027	-993	-1,015	-648
Dividend Payments	0.5%	982	977	972	968	621
Buy Backs	0%	39.00	39.00	21.00	36.00	18.00

Risks for CNA

What is the probability of a big loss on CNA?

31.9%

Probability that CNA Financial stock will be more than 20% underwater in next one year

19.2%

Probability that CNA Financial stock will be more than 30% underwater in next one year.

17.7%

Probability that CNA Financial stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CNA drawdown profile look like?

Y-axis is the maximum loss one would have experienced if CNA Financial was unfortunately bought at previous high price.

Drawdowns

Returns for CNA

Cumulative Returns on CNA

8.3%

10-Year Cumulative Returns

9.4%

7-Year Cumulative Returns

-0.5%

5-Year Cumulative Returns

7.3%

3-Year Cumulative Returns

What are the long-term rolling returns for CNA?

FIve years rolling returns for CNA Financial.

Annualized Returns

Which funds bought or sold CNA recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	sold off	-100	-12,341,000	-	-%
2023-02-28	Voya Investment Management LLC	new	-	2,496,210	2,496,210	-%
2023-02-21	MACQUARIE GROUP LTD	reduced	-52.81	-1,451,000	1,708,000	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	new	-	38,263	38,263	-%
2023-02-17	Coppell Advisory Solutions Corp.	new	-	9,006	9,006	-%
2023-02-15	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	reduced	-8.37	29,000	622,000	-%
2023-02-15	Point72 Middle East FZE	new	-	88,746	88,746	-%
2023-02-15	JANE STREET GROUP, LLC	sold off	-100	-3,464,000	-	-%
2023-02-15	MetLife Investment Management, LLC	added	0.36	2,804	23,804	-%
2023-02-15	ALLIANCEBERNSTEIN L.P.	reduced	-0.22	111,952	889,952	-%

Latest Funds Activity

Are funds buying CNA calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CNA

No. of Funds

CNA Financial News

Schedule 13G FIlings of CNA Financial

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Sep 20, 2022	loews corp	90.0%	243,883,663	SC 13D/A

CNA Fair Value

CNA Financial fair value in different scenarios

The table shows the Fair Value estimates for CNA Financial for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	35.72 -7.56%	43.50 12.58%	66.94 73.24%	83.17 115.24%	99.18 156.68%
Current Inflation	33.13 -14.26%	39.84 3.11%	59.47 53.91%	72.97 88.85%	86.30 123.34%
Very High Inflation	29.90 -22.62%	35.36 -8.49%	50.68 31.16%	61.15 58.26%	71.50 85.04%

Historical CNA Financial Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of CNA Financial

View All Filings

Date Filed	Form Type	Document
Feb 10, 2023	13F-HR	Fund Holdings Report
Feb 07, 2023	10-K	Annual Report
Feb 06, 2023	8-K	Current Report

Latest Insider Trading transactions for CNA

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-11-18	Worman Douglas	sold	-883,174	41.96	-21,048	evp & head of underwriting
2022-09-27	Haase Gary	sold (taxes)	-237,240	36.42	-6,514	evp & coo
2022-09-20	LOEWS CORP	bought	2,994,650	38.9148	76,954	-
2022-09-19	LOEWS CORP	bought	3,021,570	39.2646	76,954	-
2022-09-16	LOEWS CORP	bought	1,942,680	38.25	50,789	-
2022-09-15	LOEWS CORP	bought	1,952,330	38.44	50,789	-
2022-09-14	LOEWS CORP	bought	1,958,930	38.57	50,789	-
2022-09-13	LOEWS CORP	bought	2,002,100	39.42	50,789	-
2022-09-08	LOEWS CORP	bought	1,919,790	40.08	47,899	-
2022-09-07	LOEWS CORP	bought	1,917,360	39.78	48,199	-

About CNA Financial

Dino E. Robusto

www.cna.com

5600

CNA Financial Corporation provides commercial property and casualty insurance products primarily in the United States. It operates through Specialty, Commercial, International, Life & Group, and Corporate & Other segments. The company offers professional liability coverages and risk management services to various professional firms, including architects, real estate agents, and accounting and law firms; directors and officers, employment practices, fiduciary, and fidelity coverages to small and mid-size firms, public and privately held firms, and not-for-profit organizations; professional and general liability, as well as associated standard property and casualty coverages for healthcare industry; surety and fidelity bonds; and warranty and alternative risks products. It also provides property insurance products, such as property, marine, boiler, and machinery coverages; casualty insurance products comprising workers' compensation, general and product liability, commercial auto, and umbrella coverages; specialized loss-sensitive insurance programs and total risk management services; and run-off long term care policies. In addition, the company offers long-tail exposures comprising commercial automobile liability, workers' compensation, general and medical professional liability, other professional and management liability, and assumed reinsurance run-off and products liability; and short-tail exposures, such as property, commercial automobile physical damage, marine, and surety. It markets its products through independent agents, brokers, and general underwriters to small, medium, and large businesses; insurance companies; associations; professionals; and other groups in the marine, oil and gas, construction, manufacturing, life science, property, financial services, healthcare, and technology industries. The company was founded in 1853 and is headquartered in Chicago, Illinois. CNA Financial Corporation is a subsidiary of Loews Corporation.

CNA Income Statement

2022-09-30

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Net earned premiums	$ 2,221	$ 2,059	$ 6,435	$ 6,056
Net investment income	422	513	1,302	1,608
Net investment (losses) gains	(96)	22	(166)	117
Non-insurance warranty revenue	399	357	1,173	1,054
Other revenues	11	8	24	19
Total revenues	2,957	2,959	8,768	8,854
Claims, Benefits and Expenses
Insurance claims and policyholders’ benefits	1,665	1,632	4,703	4,684
Amortization of deferred acquisition costs	383	368	1,101	1,084
Non-insurance warranty expense	371	330	1,092	973
Other operating expenses	346	287	1,001	874
Interest	28	28	84	85
Total claims, benefits and expenses	2,793	2,645	7,981	7,700
Income before income tax	164	314	787	1,154
Income tax expense	(36)	(58)	(141)	(218)
Net income	$ 128	$ 256	$ 646	$ 936
Basic earnings per share (in usd per share)	$ 0.47	$ 0.94	$ 2.38	$ 3.44
Diluted earnings per share (in usd per share)	$ 0.47	$ 0.94	$ 2.37	$ 3.43
Weighted Average Outstanding Common Stock and Common Stock Equivalents
Weighted average shares outstanding (in shares)	271.4	271.7	271.7	271.8
Diluted (in shares)	272.3	272.7	272.6	272.8

CNA Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments:
Fixed maturity securities at fair value (amortized cost of $41,330 and $39,952, less allowance for credit loss of $3 and $18)	$ 37,251	$ 44,380
Equity securities at fair value (cost of $989 and $964)	891	1,035
Limited partnership investments	1,895	1,859
Other invested assets	73	91
Mortgage loans (less allowance for uncollectible receivables of $24 and $16)	953	973
Short term investments	1,074	1,990
Total investments	42,137	50,328
Cash	503	536
Reinsurance receivables (less allowance for uncollectible receivables of $21 and $21)	5,700	5,463
Insurance receivables (less allowance for uncollectible receivables of $28 and $29)	2,986	2,945
Accrued investment income	411	377
Deferred acquisition costs	787	737
Deferred income taxes	1,298	142
Property and equipment at cost (less accumulated depreciation of $272 and $255)	229	226
Goodwill	142	148
Deferred non-insurance warranty acquisition expense	3,653	3,476
Other assets (includes $25 and $— due from Loews Corporation)	2,369	2,261
Total assets	60,215	66,639
Insurance reserves:
Claim and claim adjustment expenses	24,700	24,174
Unearned premiums	6,195	5,761
Future policy benefits	10,454	13,236
Long term debt	2,780	2,779
Deferred non-insurance warranty revenue	4,706	4,503
Other liabilities (includes $19 and $56 due to Loews Corporation)	3,286	3,377
Total liabilities	52,121	53,830
Commitments and contingencies (Notes C and F)
Stockholders' Equity
Common stock ($2.50 par value; 500,000,000 shares authorized; 273,040,243 shares issued; 270,887,022 and 271,363,999 shares outstanding)	683	683
Additional paid-in capital	2,211	2,215
Retained earnings	9,433	9,663
Accumulated other comprehensive (loss) income	(4,139)	320
Treasury stock (2,153,221 and 1,676,244 shares), at cost	(94)	(72)
Total stockholders’ equity	8,094	12,809
Total liabilities and stockholders' equity	$ 60,215	$ 66,639