Cincinnati Financial Corporation (CINF) Upgraded at Zacks Investment Research
Cincinnati Financial Corporation (NASDAQ:CINF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Cincinnati Financial’s second-quarter 2017 earnings outperformed our expectations and improved year over year. Higher revenues and solid segmental performance mainly drove the upside. 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. 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. Also, shares of Cincinnati Financial have underperformed the industry, year to date.”
A number of other brokerages have also weighed in on CINF. BidaskClub raised Cincinnati Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods set a $70.00 price objective on Cincinnati Financial Corporation and gave the company a “hold” rating in a report on Wednesday, May 24th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $72.00 price objective on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $78.75.
Shares of Cincinnati Financial Corporation (NASDAQ CINF) traded down 0.27% on Friday, reaching $80.30. The company’s stock had a trading volume of 549,473 shares. Cincinnati Financial Corporation has a 12-month low of $68.11 and a 12-month high of $81.14. The firm has a 50 day moving average price of $73.22 and a 200-day moving average price of $71.86. The stock has a market cap of $13.16 billion, a PE ratio of 23.01 and a beta of 0.89.
Cincinnati Financial Corporation (NASDAQ:CINF) last announced its quarterly earnings data 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. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.38 billion. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. Equities research analysts expect that Cincinnati Financial Corporation will post $2.77 EPS for the current year.
In related news, Director David P. Osborn bought 1,925 shares of the stock in a transaction dated Monday, May 8th. The shares were purchased at an average price of $70.00 per share, for a total transaction of $134,750.00. Following the completion of the purchase, the director now directly owns 21,542 shares of the company’s stock, valued at $1,507,940. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.25% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Korea Investment CORP increased its position in shares of 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 buying an additional 852 shares in the last quarter. Clarius Group LLC acquired a new position in shares of Cincinnati Financial Corporation during the first quarter worth about $130,000. MCF Advisors LLC increased its position in shares of Cincinnati Financial Corporation by 2.4% in the first quarter. MCF Advisors LLC now owns 2,243 shares of the insurance provider’s stock worth $162,000 after buying an additional 52 shares in the last quarter. First Manhattan Co. increased its position in shares of Cincinnati Financial Corporation by 36.2% in the first quarter. First Manhattan Co. now owns 2,437 shares of the insurance provider’s stock worth $183,000 after buying an additional 648 shares in the last quarter. Finally, First Heartland Consultants Inc. acquired a new position in shares of Cincinnati Financial Corporation during the second quarter worth about $210,000. Institutional investors own 63.07% of the company’s stock.
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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