Cincinnati Financial (NASDAQ:CINF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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 issued a $70.00 target price on shares of Cincinnati Financial in a research report on Friday, August 18th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $79.25.
Shares of Cincinnati Financial (CINF) traded down $0.04 during trading on Wednesday, reaching $74.52. The company’s stock had a trading volume of 378,400 shares, compared to its average volume of 522,333. The company has a market capitalization of $12,233.19, a PE ratio of 29.13 and a beta of 0.93. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. Cincinnati Financial has a 52-week low of $68.24 and a 52-week high of $81.98.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.05. Cincinnati Financial had a return on equity of 5.85% and a net margin of 8.93%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business earned $0.86 earnings per share. Cincinnati Financial’s revenue for the quarter was up .7% compared to the same quarter last year. analysts expect that Cincinnati Financial will post 2.65 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of CINF. Truepoint Inc. lifted its holdings in shares of Cincinnati Financial by 7,395.5% during 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 in the last quarter. Janus Henderson Group PLC raised its position in Cincinnati Financial by 4,980.7% in the 2nd quarter. Janus Henderson Group PLC now owns 1,023,094 shares of the insurance provider’s stock valued at $74,123,000 after buying an additional 1,002,957 shares during the last quarter. Vanguard Group Inc. raised its position in 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 buying an additional 392,312 shares during the last quarter. Fairpointe Capital LLC raised its position in Cincinnati Financial by 72.3% in the 2nd quarter. Fairpointe Capital LLC now owns 811,439 shares of the insurance provider’s stock valued at $58,789,000 after buying an additional 340,373 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Cincinnati Financial by 118.1% in the 2nd quarter. Renaissance Technologies LLC now owns 375,000 shares of the insurance provider’s stock valued at $27,169,000 after buying an additional 203,055 shares during the last quarter. Hedge funds and other institutional investors own 64.55% of the company’s stock.
Cincinnati Financial 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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