Cincinnati Financial (CINF) Upgraded to “Outperform” at Credit Suisse Group

Cincinnati Financial (NASDAQ:CINF) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a $110.00 price target on the insurance provider’s stock, up from their prior price target of $90.00. Credit Suisse Group’s price objective would suggest a potential upside of 12.55% from the stock’s previous close.

CINF has been the subject of a number of other reports. BidaskClub upgraded Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. Zacks Investment Research downgraded Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cincinnati Financial presently has a consensus rating of “Buy” and a consensus target price of $95.67.

Shares of CINF stock opened at $97.73 on Friday. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 29.17 and a beta of 0.72. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. Cincinnati Financial has a fifty-two week low of $66.33 and a fifty-two week high of $98.28.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.11. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $1.47 billion. Cincinnati Financial had a return on equity of 7.35% and a net margin of 15.97%. The firm’s revenue for the quarter was up 76.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. On average, research analysts anticipate that Cincinnati Financial will post 3.55 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. KC Investment Advisors LLC increased its holdings in shares of Cincinnati Financial by 1.8% during the first quarter. KC Investment Advisors LLC now owns 6,140 shares of the insurance provider’s stock valued at $527,000 after acquiring an additional 111 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Cincinnati Financial by 1.2% during the first quarter. Private Trust Co. NA now owns 10,421 shares of the insurance provider’s stock valued at $895,000 after acquiring an additional 122 shares in the last quarter. CWM LLC increased its holdings in shares of Cincinnati Financial by 10.4% during the first quarter. CWM LLC now owns 1,317 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 124 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cincinnati Financial by 10.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,482 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 141 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Cincinnati Financial by 6.4% during the first quarter. Quadrant Capital Group LLC now owns 2,460 shares of the insurance provider’s stock valued at $207,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiary, 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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