NEW YORK (TheStreet) -- CNA Financial (CNA - Get Report) shares are down 2.86% to $38.49 in early market trading on Monday after the insurance holding company reported its second quarter financial results today.
The Chicago-based company reported second quarter earnings of $138 million, or 49 cents per diluted share on revenue of $2.33 billion.
The company's earnings results widely missed analysts' 76 cent per share expectations for the period with revenue expectations of $2.06 billion.
Separately, the company declared a 25 cent per share dividend payable September 2 to shareholders of record on August 17.
"Our combined ratio continues to improve as a result of disciplined underwriting. "We are pleased with our sustained progress and remain confident in our strategy despite challenging market conditions," said CEO Thomas Motamed.
TheStreet Ratings team rates CNA FINANCIAL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CNA FINANCIAL CORP (CNA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, increase in stock price during the past year and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow."CNA data by YCharts