11:30 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price by $5 to $130, valuing CINF shares at 18.6x our 2025 operating EPS estimate of $7.00 (upped today by $0.05) and at 20.6x our unchanged 2024 EPS estimate of $6.30, versus the five-year average forward multiple of 23x and a peer average of 13x. CINF posted Q1 EPS of $1.72 versus $0.89, in line with our $1.72 EPS estimate and the $1.71 consensus view, on 8% higher premiums (versus our 7%-12% growth forecast) and a 17% rise in ivestment income (versus our estimate of an 8%-14% rise). Underwriting results also improved, evidenced by the Q1 combined loss and expense ratio of 93.6% versus 100.7%. Q1 written premiums (aka new production) rose 11%, above many peers, and as a result, we lift our 2025 forecast of earned premium growth to 8%-13% (from 6%-10%). Above-peer rates of top-line growth and continued improvements in underwriting trends should help support the shares' premium to peers valuation. The shares also currently yield 2.9%.