Cincinnati Financial Corporation (CINF) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Cincinnati Financial Corporation (NASDAQ:CINF) from a buy rating to a hold rating in a research note issued to investors on Friday.
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.”
CINF has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $70.00 price objective on shares of Cincinnati Financial Corporation in a research report on Friday, August 18th. BidaskClub raised shares of Cincinnati Financial Corporation from a sell rating to a hold rating in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a hold rating and issued a $72.00 price objective on shares of Cincinnati Financial Corporation in a research report on Monday, May 22nd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $79.50.
Shares of Cincinnati Financial Corporation (CINF) opened at 76.08 on Friday. Cincinnati Financial Corporation has a one year low of $68.11 and a one year high of $81.98. The company has a market capitalization of $12.48 billion, a PE ratio of 21.80 and a beta of 0.89. The stock has a 50 day moving average of $77.35 and a 200-day moving average of $73.26.
Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.18. Cincinnati Financial Corporation had a net margin of 10.33% and a return on equity of 6.57%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm earned $0.57 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that Cincinnati Financial Corporation will post $2.90 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, September 21st. Cincinnati Financial Corporation’s dividend payout ratio is 57.31%.
A number of hedge funds have recently made changes to their positions in CINF. Seven Eight Capital LP bought a new stake in Cincinnati Financial Corporation in the second quarter worth about $101,000. Korea Investment CORP raised its position in Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after acquiring an additional 852 shares during the period. People s United Financial Inc. raised its position in Cincinnati Financial Corporation by 6.5% in the second quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock worth $131,000 after acquiring an additional 110 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in Cincinnati Financial Corporation in the second quarter worth about $152,000. Finally, WFG Advisors LP raised its position in Cincinnati Financial Corporation by 39.4% in the second quarter. WFG Advisors LP now owns 2,542 shares of the insurance provider’s stock worth $184,000 after acquiring an additional 718 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.
Cincinnati Financial Corporation Company Profile
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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