Detailed Stock Report - UOB-Kay Hian

CINCINNATI FINANCIAL CORP (CINF-O)

Insurance / Insurance / Prop. & Casualty Insurance

Last Close

98.54 (USD)

2022 August 30 NASDAQ Exchange

Avg Daily Vol 52-Week High Trailing PE

649,316 143.22 30.6

Market Cap

16.1B

52-Week Low Forward PE

93.41

20.7

DETAILED STOCK REPORT

Report Date: 2022-Aug-31

Annual Div

2.76

ROE

4.9%

LTG Forecast 1-Mo Return

--

1.2%

Dividend Yield Annual Rev

2.8%

7.1B

Inst Own

66.5%

3-Mo Return

-23.3%

AVERAGE SCORE

NEUTRAL OUTLOOK: CINF's current score is relatively in-line with the market.

Insurance Group: 6.6 Insurance Sector: 6.6

Score Averages

Large Market Cap: 6.4 S&P 500 Index: 6.5

Average Score Trend (4-Week Moving Avg)

Peers

Positive Neutral

ACGL AFG L

Negative 2019-08

2020-08

2021-08

MKL 2022-08 CINF

-6M -3M -1M -1W Current

10

10

10

10

10

9

8

8

8

8

8

8

8

8

7

10

9

9

7

7

10

8

4

6

6

1Y Trend

HIGHLIGHTS

- The score for Cincinnati Financial Corp last changed from 5 to 6 on 2022-08-21.

- The recent change in the Average Score was primarily due to an improvement in the Earnings component score.

I/B/E/S MEAN

Hold

6 Analysts

Strong Sell

Sell

Mean recommendation from all analysts covering the company on a standardized 5-point scale.

Hold

Buy

Strong Buy

PRICE AND VOLUME CHARTS

1-Year Return: -19.9%

5-Year Return: 28.3%

BUSINESS SUMMARY

Cincinnati Financial Corporation is engaged in the business of property casualty insurance, which markets through independent insurance agencies in approximately 46 states. The Company's subsidiaries include The Cincinnati Insurance Company, Cincinnati Global Underwriting Ltd.SM, CSU Producer Resources Inc. and CFC Investment Company. It has five segments. Its Commercial Lines Insurance segment includes five commercial business lines, including commercial casualty, commercial property, commercial auto, workers' compensation and other commercial lines. Its Personal lines insurance segment includes three business lines, personal auto, homeowner and other personal lines. Its Excess and Surplus Lines Insurance Segment includes commercial casualty and commercial property. Its Life Insurance segment includes term life insurance, worksite products, whole life insurance and universal life insurance. Its Investments segment invests in fixed-maturity investments and equity investments.

Page 1 of 12 ? 2022 Refinitiv. All rights reserved.

CINCINNATI FINANCIAL CORP (CINF-O)

Insurance / Insurance / Prop. & Casualty Insurance

DETAILED STOCK REPORT

Report Date: 2022-Aug-31

INDICATOR COMPONENTS

The AVERAGE SCORE combines the quantitative analysis of six widely-used investment decision making tools: Earnings, Fundamental, Relative Valuation, Risk, Price Momentum and Insider Trading. A simple average of the underlying component ratings is normally distributed to rank stocks on a 1-10 scale (10 being awarded to the most favorable). These factors may be evaluated differently using alternative methodologies and the importance of individual factors varies across industries, market capitalization and investment styles. Additional criteria should always be used to evaluate a stock.

Earnings

Fundamental Relative Valuation

Risk

Price Momentum Insider Trading

OPTIMIZED SCORE

Historically, companies with an Optimized Score of 5 have tended to perform in-line with the market over the following 12-month period.

As an alternative approach to equally weighting each of the six factors, independent research firm, Verus Analytics, conducted a backtest to empirically determine an optimal factor blend. Results and weighting vary across four different market capitalization categories. For large/mid cap stocks, Fundamental and Earnings historically provided the most explanatory power among the factors and are weighted heavily in the Optimized Score. Among the small/micro cap universe, Insider Trading joined Fundamental and Earnings as the most significant factors to explain returns.

PEER ANALYSIS

Currency in USD

Average Score Ticker 8 TRV 6 ALL 10 WRB 10 ACGL 7 MKL 6 CINF 7L 8 AFG 7 CNA 5 ERIE 10 ORI 7.6 Average

Price (2022-08-30)

163.46 122.34

65.24 45.74 1,192.24 98.54 55.74 129.89 38.67 211.45 23.23 195.14

PRICE MOMENTUM

1-Mo Return

3-Mo Return

1-Yr Return

3.0% -8.1%

2.5%

4.6% -10.6% -9.1%

4.3% -7.9% 30.2%

3.0% -3.6% 10.9%

-8.1% -15.1% -5.6%

1.2% -23.3% -19.9%

-4.3% -15.5% -0.16%

-2.8% -6.0% -4.8%

-8.8% -16.1% -12.1%

4.0% 26.5% 19.9%

-0.17% -2.0% -11.5%

-0.37% -7.4% 0.03%

Market Cap

39.6B 33.8B 17.7B 17.2B 16.5B 16.1B 13.7B 11.2B 10.9B 10.1B

7.4B 17.6B

VALUATION

Trailing Forward

PE

PE

11.4

12.4

42.6

15.5

13.7

15.2

11.2

9.2

677.3

15.0

30.6

20.7

12.9

--

10.7

11.8

10.1

9.4

37.7

33.9

7.2

9.7

78.7

15.3

FUNDAMENTAL

Dividend Yield

Net Margin

2.3%

9.9%

2.8%

2.0%

0.61% 12.7%

-- 19.6%

--

0.7%

2.8%

7.6%

0.45%

7.8%

1.7% 15.5%

4.1%

8.8%

2.1% 10.8%

4.0% 11.2%

2.3%

9.7%

ANALYSTS LTG I/B/E/S Forecast Mean 3.6% Hold 5.3% Buy 9.0% Buy

-- Buy -- Buy -- Hold -- Hold -- Buy -- Hold -- Buy 10.0% Hold 7.0% Buy

# of Analysts

22 20 13 13

6 6 1 7 5 2 3 8.9

PEER COMPANIES

ACGL AFG ALL CNA ERIE

Arch Capital Group American Financial Group Inc Allstate Corp CNA Financial Corp Erie Indemnity Co

L MKL ORI TRV WRB

Loews Corp Markel Corp Old Republic International Travelers Companies Inc W R Berkley Corp

Page 2 of 12 ? 2022 Refinitiv. All rights reserved.

CINCINNATI FINANCIAL CORP (CINF-O)

Insurance / Insurance / Prop. & Casualty Insurance

DETAILED STOCK REPORT

Report Date: 2022-Aug-31

EARNINGS

Currency in USD

NEUTRAL OUTLOOK: Mixed earnings expectations and performance.

Insurance Group: 5.8 Insurance Sector: 5.8

Earnings Score Averages

Large Market Cap: 6.5 S&P 500 Index: 6.6

Earnings Score Trend (4-Week Moving Avg)

Peers

Positive Neutral

ACGL AFG MKL

Negative 2019-08

2020-08

2021-08

2022-08

CINF L

EARNINGS INDICATORS

-6M -3M -1M -1W Current

10

4

10

10

10

10

9

9

8

8

5

5

9

8

7

9

10

1

3

6

NR NR NR NR

NR

1Y Trend

Earnings Surprises (33.3% weight)

Estimate Revisions (33.3% weight)

Recommendation Changes (33.3% weight)

AFG MKL ACGL

ACGL

ACGL

CINF

CINF

AFG

AFG MKL

L

L

CINF

L

MKL

Last 4 Quarters

Last 4 Weeks

Last 120 Days

# Positive Surprises (>2%)

3

# Up Revisions

0

# Broker Upgrades

0

# Negative Surprises ( ................
................

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