Keefe, Bruyette & Woods Raises Cincinnati Financial (NASDAQ:CINF) Price Target to $156.00

Cincinnati Financial (NASDAQ:CINF) had its target price hoisted by Keefe, Bruyette & Woods from $152.00 to $156.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on the stock. Roth Mkm lifted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a report on Friday, July 26th. Bank of America lifted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Price Performance

CINF stock opened at $140.83 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial has a 12 month low of $98.65 and a 12 month high of $145.33. The firm has a market cap of $22.01 billion, a P/E ratio of 7.24, a P/E/G ratio of 2.62 and a beta of 0.66. The company’s 50-day moving average price is $136.98 and its two-hundred day moving average price is $125.87.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm 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 earnings per share. Cincinnati Financial’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, analysts anticipate that Cincinnati Financial will post 6.58 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CINF. Wellington Management Group LLP lifted its position in shares of Cincinnati Financial by 5.1% in the 4th quarter. Wellington Management Group LLP now owns 17,486 shares of the insurance provider’s stock worth $1,809,000 after purchasing an additional 853 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Cincinnati Financial by 117.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,558 shares of the insurance provider’s stock worth $566,000 after purchasing an additional 2,461 shares during the period. Norden Group LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $354,000. First Trust Direct Indexing L.P. lifted its position in shares of Cincinnati Financial by 16.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,305 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 331 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Cincinnati Financial in the 1st quarter worth approximately $223,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.