Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $126.00

Cincinnati Financial (NASDAQ:CINF) had its price objective upped by Piper Sandler from $116.00 to $126.00 in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the insurance provider’s stock.

CINF has been the topic of a number of other research reports. Roth Mkm raised their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America raised their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Stock Down 1.8 %

NASDAQ:CINF opened at $140.83 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50-day simple moving average of $136.98 and a 200 day simple moving average of $125.87. Cincinnati Financial has a one year low of $98.65 and a one year high of $145.33. The company has a market capitalization of $22.01 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The business’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts predict that Cincinnati Financial will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were paid a dividend of $0.81 per share. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Cincinnati Financial by 1.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after acquiring an additional 16,451 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Cincinnati Financial by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after acquiring an additional 187,934 shares during the period. Bahl & Gaynor Inc. grew its position in Cincinnati Financial by 10.6% in the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares during the last quarter. AQR Capital Management LLC grew its position in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after buying an additional 277,550 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in Cincinnati Financial by 2.6% in the third quarter. Boston Trust Walden Corp now owns 777,588 shares of the insurance provider’s stock worth $105,845,000 after buying an additional 19,793 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.