Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $126.00 at Piper Sandler

Cincinnati Financial (NASDAQ:CINF) had its target price increased by Piper Sandler from $116.00 to $126.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the insurance provider’s stock.

Several other equities research analysts also recently commented on CINF. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America lifted their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Roth Mkm upped their target price 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Trading Down 0.1 %

Shares of NASDAQ:CINF opened at $140.65 on Tuesday. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 2.70 and a beta of 0.66. Cincinnati Financial has a 12 month low of $98.65 and a 12 month high of $145.33. The company’s fifty day simple moving average is $137.14 and its 200 day simple moving average is $126.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts forecast that Cincinnati Financial will post 6.4 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System increased its position in Cincinnati Financial by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after purchasing an additional 7,709 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Cincinnati Financial by 40.6% in the 1st quarter. BNP Paribas Financial Markets now owns 168,351 shares of the insurance provider’s stock valued at $20,904,000 after acquiring an additional 48,597 shares during the last quarter. Vest Financial LLC increased its holdings in Cincinnati Financial by 14.0% in the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. SG Americas Securities LLC boosted its position in Cincinnati Financial by 77.3% during the 1st quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock worth $5,326,000 after buying an additional 18,704 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock valued at $14,016,000 after purchasing an additional 56,686 shares during the period. Institutional investors 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.