Zacks Investment Research Upgrades Cincinnati Financial (CINF) to Buy

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Cincinnati Financial (NASDAQ:CINF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $85.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.96% from the company’s current price.

According to Zacks, “Shares of Cincinnati Financial have outperformed the industry in a year. The company’s low leverage, ample capital, consistent cash flow generation, favorable reserve release, share repurchases and steady dividend hikes should drive growth. Management is appointing agencies and expanding product offerings to ramp up its business profile. Net investment income growth is expected in the near term, driven by rising interest rates. The company has replaced its existing catastrophe bond program with a new collateralized reinsurance to mitigate the loss. However, exposure to cat loss and a persistent turmoil in group benefits associated with the ACA are headwinds. Higher expenses might also weigh on the desired margin expansion. A Zacks Rank #2 and Earnings ESP of 0.00% makes surprise prediction inconclusive as it reports fourth quarter results on Feb 6.”

CINF has been the subject of several other reports. Buckingham Research began coverage on shares of Cincinnati Financial in a research note on Friday, December 14th. They set a “neutral” rating and a $80.00 price objective for the company. BidaskClub upgraded shares of Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 15th. Finally, ValuEngine upgraded shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $78.33.

NASDAQ CINF opened at $77.30 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial has a 12-month low of $66.33 and a 12-month high of $82.86. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 28.21 and a beta of 0.68.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 25th. The insurance provider reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. Cincinnati Financial had a net margin of 22.61% and a return on equity of 6.70%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Sell-side analysts anticipate that Cincinnati Financial will post 3.08 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its position in Cincinnati Financial by 9.9% during the fourth quarter. State of Alaska Department of Revenue now owns 42,211 shares of the insurance provider’s stock valued at $3,267,000 after purchasing an additional 3,799 shares during the period. Moody National Bank Trust Division lifted its position in Cincinnati Financial by 1.1% during the fourth quarter. Moody National Bank Trust Division now owns 14,664 shares of the insurance provider’s stock valued at $1,135,000 after purchasing an additional 164 shares during the period. Great Lakes Advisors LLC acquired a new position in Cincinnati Financial during the third quarter valued at $230,000. Vanguard Group Inc lifted its position in Cincinnati Financial by 1.2% during the third quarter. Vanguard Group Inc now owns 17,645,128 shares of the insurance provider’s stock valued at $1,355,324,000 after purchasing an additional 215,956 shares during the period. Finally, WealthPLAN Partners LLC lifted its position in Cincinnati Financial by 5.9% during the third quarter. WealthPLAN Partners LLC now owns 48,827 shares of the insurance provider’s stock valued at $3,896,000 after purchasing an additional 2,729 shares during the period. Institutional investors own 63.16% of the company’s stock.

About Cincinnati Financial

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

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