Cincinnati Financial (NASDAQ:CINF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. It continues to see net investment income growth and expects to retain the momentum in the near term as well. 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, year to date. Moroever, the company saw its 2017 estimate moving north in the last 60 days, while its 2018 estimate moved south in the same time period.”

Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $70.00 price objective on shares of Cincinnati Financial in a research note on Friday, August 18th. 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 currently has an average rating of “Hold” and a consensus price target of $79.25.

Shares of Cincinnati Financial (NASDAQ CINF) traded down $0.04 during trading on Wednesday, reaching $74.52. The company had a trading volume of 378,400 shares, compared to its average volume of 522,333. The firm has a market cap of $12,233.19, a P/E ratio of 29.13 and a beta of 0.93. Cincinnati Financial has a twelve month low of $68.24 and a twelve month high of $81.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. equities research analysts predict that Cincinnati Financial will post 2.65 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Cincinnati Financial by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,010,783 shares of the insurance provider’s stock valued at $1,232,431,000 after purchasing an additional 392,312 shares during the period. State Street Corp raised its stake in shares of Cincinnati Financial by 0.6% in the 2nd quarter. State Street Corp now owns 10,126,768 shares of the insurance provider’s stock valued at $733,677,000 after purchasing an additional 58,443 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Cincinnati Financial by 2.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,962,990 shares of the insurance provider’s stock valued at $214,669,000 after purchasing an additional 62,767 shares during the period. Truepoint Inc. raised its stake in shares of Cincinnati Financial by 7,395.5% in the 3rd quarter. Truepoint Inc. now owns 1,954,901 shares of the insurance provider’s stock valued at $1,955,000 after purchasing an additional 1,928,820 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Cincinnati Financial by 3.3% in the 2nd quarter. Royal Bank of Canada now owns 1,879,885 shares of the insurance provider’s stock valued at $136,198,000 after purchasing an additional 60,921 shares during the period. 64.55% of the stock is currently owned by hedge funds and other institutional investors.

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About Cincinnati Financial

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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