Zacks Investment Research cut shares of Cincinnati Financial Corporation (NASDAQ:CINF) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “Shares of Cincinnati Financial have outperformed the industry, quarter to date. Moreover, the company witnessed its 2017 and 2018 estimates moving north over the last 60 days. 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. Moreover, the company continues to see net investment income growth and expects to retain the momentum in the near term as well. However, the company’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.”

A number of other brokerages have also recently commented on CINF. BidaskClub raised shares of Cincinnati Financial Corporation from a sell rating to a hold rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $70.00 target price on shares of Cincinnati Financial Corporation in a report on Friday, August 18th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $72.00 target price on shares of Cincinnati Financial Corporation in a report on Monday, May 22nd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $79.50.

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) traded down 0.53% on Friday, reaching $75.22. 1,390,942 shares of the company’s stock traded hands. The firm’s 50-day moving average is $77.35 and its 200-day moving average is $73.26. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 21.55 and a beta of 0.89. 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 announced its earnings results on Wednesday, August 2nd. The insurance provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.18. Cincinnati Financial Corporation had a net margin of 10.33% and a return on equity of 6.57%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $0.57 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Corporation will post $2.90 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.dailypolitical.com/2017/09/16/cincinnati-financial-corporation-cinf-downgraded-by-zacks-investment-research-to-hold.html.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 22nd will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.66%. Cincinnati Financial Corporation’s dividend payout ratio (DPR) is presently 57.31%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Seven Eight Capital LP purchased a new stake in shares of Cincinnati Financial Corporation in the second quarter worth $101,000. Korea Investment CORP increased its stake in shares of Cincinnati Financial Corporation by 142.0% in the second quarter. Korea Investment CORP now owns 1,452 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 852 shares in the last quarter. People s United Financial Inc. increased its stake in shares of Cincinnati Financial Corporation by 6.5% in the second quarter. People s United Financial Inc. now owns 1,802 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 110 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Cincinnati Financial Corporation in the second quarter worth $152,000. Finally, WFG Advisors LP increased its stake in shares of Cincinnati Financial Corporation by 39.4% in the second quarter. WFG Advisors LP now owns 2,542 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 718 shares in the last quarter. 63.12% of the stock is owned by hedge funds and other institutional investors.

About Cincinnati Financial Corporation

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.

Analyst Recommendations for Cincinnati Financial Corporation (NASDAQ:CINF)

Receive News & Ratings for Cincinnati Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.