Keefe, Bruyette & Woods Has Lowered Expectations for Cincinnati Financial (NASDAQ:CINF) Stock Price

Cincinnati Financial (NASDAQ:CINF) had its price target decreased by research analysts at Keefe, Bruyette & Woods from $190.00 to $171.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 3.24% from the company’s current price.

Several other brokerages also recently weighed in on CINF. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Roth Capital increased their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Bank of America cut Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Piper Sandler raised their price target on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $191.60.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $165.64 on Monday. The company has a market capitalization of $25.42 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.82 and a beta of 0.52. Cincinnati Financial has a 1-year low of $150.00 and a 1-year high of $194.81. The firm’s 50 day simple moving average is $168.79 and its two-hundred day simple moving average is $169.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%. During the same period last year, the company earned $1.97 earnings per share. Research analysts expect that Cincinnati Financial will post 8.35 EPS for the current fiscal year.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $171.64 per share, for a total transaction of $171,640.00. Following the completion of the transaction, the director directly owned 62,059 shares in the company, valued at approximately $10,651,806.76. This represents a 1.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cincinnati Financial

Several hedge funds have recently modified their holdings of the stock. BIP Wealth LLC boosted its position in shares of Cincinnati Financial by 1.6% in the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Cincinnati Financial by 2.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,118 shares of the insurance provider’s stock valued at $577,000 after acquiring an additional 64 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Cincinnati Financial by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after acquiring an additional 68 shares in the last quarter. McAdam LLC increased its holdings in Cincinnati Financial by 2.6% during the 2nd quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock valued at $512,000 after acquiring an additional 70 shares in the last quarter. Finally, William B. Walkup & Associates Inc. increased its holdings in Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock valued at $428,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Through its subsidiaries, the company markets property and casualty insurance products primarily through a network of independent insurance agents.

Its offerings include commercial and personal property and casualty coverage, such as businessowners’ policies, commercial auto, workers’ compensation, homeowners and automobile insurance. The company also provides life insurance and related financial products through Cincinnati Life Insurance Company.