Roth Mkm Forecasts Strong Price Appreciation for Cincinnati Financial (NASDAQ:CINF) Stock

Cincinnati Financial (NASDAQ:CINF) had its price target raised by Roth Mkm from $140.00 to $160.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $146.67.

Cincinnati Financial Stock Performance

CINF opened at $133.67 on Wednesday. The firm’s fifty day simple moving average is $142.92 and its two-hundred day simple moving average is $140.47. Cincinnati Financial has a 52-week low of $107.75 and a 52-week high of $161.74. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 2.42 and a beta of 0.71. 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 issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Equities analysts anticipate that Cincinnati Financial will post 6.33 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Monday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.60%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Insider Activity

In other news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average price of $157.19 per share, with a total value of $157,190.00. Following the transaction, the director now owns 54,500 shares in the company, valued at $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Cincinnati Financial by 1,111.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 763 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 700 shares during the period. Exchange Traded Concepts LLC purchased a new position in Cincinnati Financial during the third quarter worth about $174,000. Creative Planning increased its position in shares of Cincinnati Financial by 167.2% during the third quarter. Creative Planning now owns 143,869 shares of the insurance provider’s stock valued at $19,583,000 after acquiring an additional 90,021 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Cincinnati Financial by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,314 shares of the insurance provider’s stock valued at $2,221,000 after acquiring an additional 256 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in shares of Cincinnati Financial by 11.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,070 shares of the insurance provider’s stock valued at $418,000 after acquiring an additional 307 shares during the period. 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.