Cincinnati Financial (NASDAQ:CINF) Stock Rating Lowered by Zacks Investment Research

Cincinnati Financial (NASDAQ:CINFGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. They currently have a $145.00 price objective on the insurance provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 4.90% from the stock’s previous close.

According to Zacks, “Cincinnati Financial continues to grow premiums through a disciplined expansion of Cincinnati Re while the division makes a nice contribution to its overall earnings. Price increases and a higher level of insured exposures are positives. The company is focused on earning new business through appointing new agencies and believes agent-focused business model will drive long-term premium growth. Cincinnati Financial boasts solid capital position based on which it engages in returning value to shareholders. Favorable reserve release should drive growth. Consistent cash flow and sufficient cash balances continue to boost liquidity. Shares have outperformed the industry in past year. However, exposure to catastrophe loss makes earnings volatile. Escalating expenses can also put strain on margin expansion.”

Separately, StockNews.com started coverage on shares of Cincinnati Financial in a research report on Thursday, March 31st. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $129.80.

Shares of CINF stock traded down $0.36 during trading hours on Tuesday, hitting $138.23. 4,583 shares of the company were exchanged, compared to its average volume of 694,946. Cincinnati Financial has a 1 year low of $105.64 and a 1 year high of $139.82. The firm has a fifty day moving average of $129.17 and a 200 day moving average of $122.01. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.07. The firm has a market cap of $22.18 billion, a PE ratio of 7.63 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINFGet Rating) last posted its quarterly earnings data on Tuesday, February 15th. The insurance provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.47. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $1.77 billion. Cincinnati Financial had a net margin of 30.59% and a return on equity of 8.70%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 earnings per share. Analysts expect that Cincinnati Financial will post 5.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CINF. Covestor Ltd bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $26,000. Wagner Wealth Management LLC raised its position in Cincinnati Financial by 43.8% in the third quarter. Wagner Wealth Management LLC now owns 279 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 85 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Cincinnati Financial by 32.9% in the third quarter. Eagle Bay Advisors LLC now owns 396 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 98 shares in the last quarter. CWM LLC bought a new stake in Cincinnati Financial in the fourth quarter worth about $46,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Cincinnati Financial by 340.2% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 427 shares of the insurance provider’s stock worth $49,000 after acquiring an additional 330 shares in the last quarter. Institutional investors and hedge funds own 65.73% of the company’s stock.

About Cincinnati Financial (Get Rating)

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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