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 Monday. The brokerage currently has a $85.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.02% from the company’s current price.
According to Zacks, “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. The company continues to see net investment income growth and expects to retain the momentum in the near term as well. The company witnessed its 2017 and 2018 estimates moving north over the last 60 days. However, Cincinnati Financial’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. Shares of Cincinnati Financial have underperformed the industry quarter to date.”
A number of other research analysts have also commented on CINF. BidaskClub upgraded shares of Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $70.00 price target on shares of Cincinnati Financial Corporation in a research note on Friday, August 18th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $79.25.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned $0.57 EPS. Cincinnati Financial Corporation’s quarterly revenue was up 1.1% on a year-over-year basis.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Eight Capital LP acquired a new position in Cincinnati Financial Corporation in the 2nd quarter valued at about $101,000. Korea Investment CORP boosted its holdings in Cincinnati Financial Corporation by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock valued at $105,000 after purchasing an additional 852 shares during the period. People s United Financial Inc. boosted its holdings in Cincinnati Financial Corporation by 6.5% in the 2nd quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock valued at $131,000 after purchasing an additional 110 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in Cincinnati Financial Corporation in the 2nd quarter valued at about $152,000. Finally, WFG Advisors LP boosted its holdings in Cincinnati Financial Corporation by 39.4% in the 2nd quarter. WFG Advisors LP now owns 2,542 shares of the insurance provider’s stock valued at $184,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 63.10% 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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