CNA Misses Expectations On Onetime Charges

Analysts at Janney Montgomery Scott maintain their "neutral" rating on CNA Financial (NYSE: CNA).

CNA Financial reported its Q4 EPS short of the estimates and the consensus due to lower-than-expected investment income and underwriting income and runoff payment for environmental and asbestos related issues.

“Book value increased 1%, to $35.91 at 12/31/09 from $35.38 at 9/30/09, and compared to our projection of $36.18,” the analysts say. The book value indicates that CNA remains a “work in progress,” the analysts add.

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