Roth Mkm Boosts Cincinnati Financial (NASDAQ:CINF) Price Target to $140.00

Cincinnati Financial (NASDAQ:CINF) had its price objective lifted by Roth Mkm from $130.00 to $140.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research firms also recently weighed in on CINF. Bank of America lifted their price target on shares of Cincinnati Financial from $143.00 to $156.00 and gave the company a buy rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Citigroup raised Cincinnati Financial from a neutral rating to a buy rating and raised their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Piper Sandler reaffirmed a neutral rating and set a $116.00 target price on shares of Cincinnati Financial in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $133.57.

Cincinnati Financial Stock Up 3.0 %

Shares of Cincinnati Financial stock opened at $123.96 on Friday. The stock’s 50-day moving average is $117.67 and its 200 day moving average is $116.26. Cincinnati Financial has a one year low of $96.86 and a one year high of $128.23. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 2.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Cincinnati Financial had a return on equity of 9.29% and a net margin of 20.20%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Equities research analysts anticipate that Cincinnati Financial will post 6.25 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, June 18th were issued a dividend of $0.81 per share. The ex-dividend date was Tuesday, June 18th. This represents a $3.24 annualized dividend and a yield of 2.61%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Cincinnati Financial by 72.4% in the 3rd quarter. Wellington Management Group LLP now owns 16,633 shares of the insurance provider’s stock worth $1,701,000 after purchasing an additional 6,987 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Cincinnati Financial by 17.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 32,828 shares of the insurance provider’s stock worth $3,396,000 after buying an additional 4,795 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cincinnati Financial by 6.3% in the fourth quarter. Pacer Advisors Inc. now owns 10,512 shares of the insurance provider’s stock valued at $1,088,000 after acquiring an additional 626 shares in the last quarter. Blue Trust Inc. lifted its holdings in Cincinnati Financial by 29.2% during the fourth quarter. Blue Trust Inc. now owns 5,109 shares of the insurance provider’s stock worth $523,000 after acquiring an additional 1,156 shares during the period. Finally, Welch Group LLC boosted its position in Cincinnati Financial by 1.4% in the fourth quarter. Welch Group LLC now owns 409,631 shares of the insurance provider’s stock worth $42,380,000 after purchasing an additional 5,812 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

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.