Cincinnati Financial Corporation (CINF) Cut to Hold at Zacks Investment Research
Cincinnati Financial Corporation (NASDAQ:CINF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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.”
A number of other research firms also recently issued reports on CINF. BidaskClub raised Cincinnati Financial Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial Corporation in a research note on Friday, August 18th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $72.00 price objective on shares of Cincinnati Financial Corporation in a research note on Monday, May 22nd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $79.50.
Cincinnati Financial Corporation (NASDAQ:CINF) traded down 0.67% during trading on Friday, reaching $75.11. The company had a trading volume of 402,479 shares. The firm’s 50 day moving average is $77.35 and its 200-day moving average is $73.25. The company has a market capitalization of $12.32 billion, a P/E ratio of 21.52 and a beta of 0.89. Cincinnati Financial Corporation has a 12 month low of $68.11 and a 12 month high of $81.98.
Cincinnati Financial Corporation (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business 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 analysts expect that Cincinnati Financial Corporation will post $2.90 earnings per share for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of the business. Sentry Investment Management LLC lifted its stake in shares of Cincinnati Financial Corporation by 0.9% during the second quarter. Sentry Investment Management LLC now owns 10,411 shares of the insurance provider’s stock worth $754,000 after purchasing an additional 96 shares in the last quarter. WFG Advisors LP lifted its stake in shares of Cincinnati Financial Corporation by 39.4% during the second quarter. WFG Advisors LP now owns 2,542 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 718 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Cincinnati Financial Corporation by 25.5% during the second quarter. Toronto Dominion Bank now owns 50,851 shares of the insurance provider’s stock worth $3,684,000 after purchasing an additional 10,331 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Cincinnati Financial Corporation by 0.9% during the second quarter. Public Employees Retirement System of Ohio now owns 68,600 shares of the insurance provider’s stock worth $4,970,000 after purchasing an additional 594 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of Cincinnati Financial Corporation during the second quarter worth about $422,000. Institutional investors own 63.12% 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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