Bank of America Securities maintains Hold ratings on Cincinnati Financial and American International Group

  • Joshua Shanker maintained Hold ratings on Cincinnati Financial and American International Group.
  • Consensus analysts assigned Moderate Buy ratings, with average price targets of $196.25 for Cincinnati Financial and $87.69 for American International Group.
  • For the quarter ended June 30, Cincinnati Financial reported $4.27 billion in revenue and $1.26 billion in net profit, while American International Group reported $7.09 billion and $948 million, respectively.

Joshua Shanker of Bank of America Securities maintained Hold ratings on Cincinnati Financial and American International Group in reports released yesterday. Cincinnati Financial shares closed at $162.15, while American International Group shares closed at $75.43. TipRanks identifies Shanker as a 5-star analyst with an average return of 7.0% and a 61.01% success rate. He covers the Financial sector, including Progressive, Allstate and W. R. Berkley Corporation. The analyst consensus was Moderate Buy for both companies, with average price targets of $196.25 for Cincinnati Financial and $87.69 for American International Group. For the quarter ending June 30, Cincinnati Financial reported $4.27 billion in revenue and $1.26 billion in net profit, compared with $3.25 billion in revenue and $685 million in net profit a year earlier. American International Group reported $7.09 billion in revenue and $948 million in net profit for the quarter ended June 30, compared with $7.04 billion in revenue and $1.14 billion in net profit a year earlier. Activity involving 61 Cincinnati Financial corporate insiders indicated negative sentiment, reflecting increased insider selling of CINF shares during the past quarter compared with earlier this year.

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