Cincinnati Financial Corporation (CINF) Upgraded at Zacks Investment Research
Cincinnati Financial Corporation (NASDAQ:CINF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $86.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.39% from the stock’s previous close.
According to Zacks, “Shares of Cincinnati Financial have outperformed the industry, quarter to date. Moreover, the company witnessed its 2017 and 2018 estimates moving north over the last 60 days. Cincinnati Financial’s low leverage, ample capital, consistent cash flow generation, favorable reserve release, share repurchases and consistent dividend hikes should drive growth. Management is appointing agencies and expanding product offerings to ramp up the business. Moreover, the company continues to see net investment income growth and expects to retain the momentum in the near term as well. However, the company’s exposure to cat losses and a continued turmoil in group benefits associated with the ACA are headwinds. The insurer has replaced its existing catastrophe bond program with a new collateralized reinsurance to mitigate the loss.”
Several other research firms have also commented on CINF. BidaskClub lowered Cincinnati Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $70.00 price target on Cincinnati Financial Corporation and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $72.00 price target on shares of Cincinnati Financial Corporation in a research report on Monday, May 22nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.50.
Shares of Cincinnati Financial Corporation (CINF) traded down 0.3169% during midday trading on Tuesday, hitting $76.2775. The company’s stock had a trading volume of 140,391 shares. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.98. The firm has a 50-day moving average of $77.30 and a 200 day moving average of $73.16. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 21.8560 and a beta of 0.89.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Financial Corporation will post $2.90 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schulhoff & Co. Inc. boosted its position in shares of Cincinnati Financial Corporation by 0.3% during the second quarter. Schulhoff & Co. Inc. now owns 63,477 shares of the insurance provider’s stock worth $4,598,000 after buying an additional 200 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Cincinnati Financial Corporation by 12.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 75,485 shares of the insurance provider’s stock worth $5,456,000 after buying an additional 8,263 shares during the period. OppenheimerFunds Inc. boosted its position in shares of Cincinnati Financial Corporation by 15.1% during the first quarter. OppenheimerFunds Inc. now owns 10,677 shares of the insurance provider’s stock worth $772,000 after buying an additional 1,399 shares during the period. Bollard Group LLC boosted its position in shares of Cincinnati Financial Corporation by 1.9% during the second quarter. Bollard Group LLC now owns 35,992 shares of the insurance provider’s stock worth $2,608,000 after buying an additional 656 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Cincinnati Financial Corporation by 5.5% during the second quarter. Legal & General Group Plc now owns 781,990 shares of the insurance provider’s stock worth $56,658,000 after buying an additional 41,039 shares during the period. Institutional investors and hedge funds own 63.12% of the company’s stock.
About Cincinnati Financial Corporation
Cincinnati Financial Corporation is an insurance holding company. It operates through five segments: Commercial lines insurance, Personal lines insurance, Excess and surplus lines insurance, and Life insurance and Investments. Its Commercial Lines Insurance Segment provides five commercial business lines: commercial casualty, commercial property, commercial auto, workers’ compensation and other commercial lines.
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