Cincinnati Financial Corporation (CINF) – What Are Investment Firms Saying About This Stock?

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $191.60.

A number of equities research analysts recently issued reports on the company. 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 report on Tuesday, July 28th. Weiss Ratings cut Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 12th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th.

Cincinnati Financial Stock Performance

Shares of NASDAQ:CINF opened at $181.19 on Friday. The company’s 50 day moving average price is $169.33 and its two-hundred day moving average price is $168.14. Cincinnati Financial has a 12-month low of $151.99 and a 12-month high of $194.81. The firm has a market cap of $27.81 billion, a PE ratio of 10.63, a PEG ratio of 2.92 and a beta of 0.52. The company has a quick ratio of 0.31, a current ratio of 0.27 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Monday, October 26th. The insurance provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a net margin of 20.07% and a return on equity of 9.48%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the firm earned $2.85 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial will post 9.09 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio is currently 22.05%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nykredit A S acquired a new stake in shares of Cincinnati Financial during the 2nd quarter worth approximately $29,340,000. National Pension Service increased its stake in Cincinnati Financial by 394.1% in the second quarter. National Pension Service now owns 1,280,676 shares of the insurance provider’s stock valued at $237,104,000 after acquiring an additional 1,021,465 shares during the last quarter. Bank of America Corp DE acquired a new position in Cincinnati Financial during the second quarter valued at approximately $347,891,000. Legal & General Group Plc acquired a new position in Cincinnati Financial during the second quarter valued at approximately $200,331,000. Finally, Envestnet Asset Management Inc. lifted its stake in Cincinnati Financial by 1,474.8% during the second quarter. Envestnet Asset Management Inc. now owns 2,242,991 shares of the insurance provider’s stock worth $415,267,000 after purchasing an additional 2,100,563 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.