Cincinnati Financial Corporation (NASDAQ:CINF) Receives $170.75 Consensus PT from Brokerages

Cincinnati Financial Corporation (NASDAQ:CINF) has been given an average rating of “Moderate Buy” by the five analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $170.75.

CINF has been the subject of several research reports. Piper Sandler upped their target price on Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Roth Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th.

Insider Activity

In related news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were acquired at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the acquisition, the director owned 58,482 shares of the company’s stock, valued at $9,005,058.36. The trade was a 1.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Cincinnati Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CINF. Norges Bank bought a new stake in shares of Cincinnati Financial in the 2nd quarter valued at about $235,714,000. Vanguard Group Inc. raised its stake in shares of Cincinnati Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after acquiring an additional 317,033 shares in the last quarter. Raymond James Financial Inc. lifted its position in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Amundi boosted its stake in Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock valued at $66,479,000 after acquiring an additional 242,020 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in Cincinnati Financial by 210.0% in the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after purchasing an additional 199,437 shares during the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $162.18 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 3.65 and a beta of 0.66. The firm has a 50-day moving average of $164.61 and a two-hundred day moving average of $157.57. Cincinnati Financial has a 1 year low of $123.01 and a 1 year high of $169.86.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.84. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 earnings per share. On average, research analysts forecast that Cincinnati Financial will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd were issued a dividend of $0.87 per share. The ex-dividend date was Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.