Brokerages Set Cincinnati Financial Co. (NASDAQ:CINF) PT at $132.50

Cincinnati Financial Co. (NASDAQ:CINF) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $133.57.

A number of research firms recently commented on CINF. Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Roth Mkm increased their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America boosted their price objective on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $123.96 on Monday. Cincinnati Financial has a twelve month low of $96.86 and a twelve month high of $128.23. The company has a 50-day simple moving average of $117.67 and a two-hundred day simple moving average of $116.13. The stock has a market capitalization of $19.41 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 2.61 and a beta of 0.65. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.32. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The company’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. Analysts forecast that Cincinnati Financial will post 6.23 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, June 18th. Cincinnati Financial’s payout ratio is 21.56%.

Insider Buying and Selling

In other news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $113.47 per share, for a total transaction of $113,470.00. Following the completion of the acquisition, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds have recently added to or reduced their stakes in CINF. Assetmark Inc. raised its stake in shares of Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 174 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Cincinnati Financial during the 4th quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at about $31,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of Cincinnati Financial during the fourth quarter worth about $39,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

About Cincinnati Financial

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.