Cincinnati Financial Corporation (NASDAQ:CINF) Downgraded by Zacks Investment Research to “Sell”

Cincinnati Financial Corporation (NASDAQ:CINF) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Tuesday, October 17th.

According to Zacks, “Shares of Cincinnati Financial have underperformed the industry year to date. 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. Nonetheless, the company’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. The company continues to see net investment income growth and expects to retain the momentum in the near term as well. The company is set to release third quarter results on Oct 26. A Zacks Rank #4 combined with Earnings ESP of -5.36% makes prediction difficult.”

A number of other equities analysts also recently weighed in 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 issued a $70.00 price target on shares of Cincinnati Financial Corporation in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Cincinnati Financial Corporation currently has a consensus rating of “Hold” and an average target price of $79.25.

Cincinnati Financial Corporation (NASDAQ:CINF) traded down 3.13% during trading on Tuesday, hitting $73.64. 234,229 shares of the stock traded hands. The firm’s 50-day moving average is $76.27 and its 200 day moving average is $73.97. The stock has a market cap of $12.08 billion, a P/E ratio of 21.10 and a beta of 0.90. Cincinnati Financial Corporation has a 52 week low of $68.11 and a 52 week high of $81.98.

Cincinnati Financial Corporation (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Cincinnati Financial Corporation had a return on equity of 6.57% and a net margin of 10.33%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The business’s revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Cincinnati Financial Corporation will post $2.66 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of CINF. Vanguard Group Inc. raised its position in shares of Cincinnati Financial Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 17,010,783 shares of the insurance provider’s stock worth $1,232,431,000 after acquiring an additional 392,312 shares during the last quarter. State Street Corp increased its holdings in Cincinnati Financial Corporation by 0.6% in the second quarter. State Street Corp now owns 10,126,768 shares of the insurance provider’s stock worth $733,677,000 after purchasing an additional 58,443 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cincinnati Financial Corporation by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 2,962,990 shares of the insurance provider’s stock worth $214,669,000 after purchasing an additional 62,767 shares in the last quarter. Royal Bank of Canada grew its stake in Cincinnati Financial Corporation by 3.3% in the second quarter. Royal Bank of Canada now owns 1,879,885 shares of the insurance provider’s stock valued at $136,198,000 after acquiring an additional 60,921 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Cincinnati Financial Corporation by 4,980.7% during the second 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. Hedge funds and other institutional investors own 62.87% 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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