Cincinnati Financial (NASDAQ:CINF) PT Raised to $156.00 at Bank of America

Cincinnati Financial (NASDAQ:CINF) had its price objective lifted by equities researchers at Bank of America from $143.00 to $156.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s target price indicates a potential upside of 27.51% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. BMO Capital Markets raised shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Piper Sandler reissued a “neutral” rating and set a $116.00 price objective on shares of Cincinnati Financial in a research note on Monday, April 1st. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price objective for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cincinnati Financial Stock Up 0.8 %

Shares of NASDAQ CINF opened at $122.34 on Thursday. Cincinnati Financial has a 12-month low of $96.86 and a 12-month high of $124.35. The company has a market capitalization of $19.15 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 2.57 and a beta of 0.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.26 and a quick ratio of 0.26. The firm’s 50-day moving average is $116.73 and its two-hundred day moving average is $114.88.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.03. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities analysts anticipate that Cincinnati Financial will post 6.32 EPS for the current fiscal year.

Insider Activity

In other Cincinnati Financial news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were acquired at an average price of $113.47 per share, with a total value of $113,470.00. Following the purchase, the director now owns 53,988 shares in the company, valued at approximately $6,126,018.36. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds have recently made changes to their positions in the business. Savant Capital LLC raised its stake in shares of Cincinnati Financial by 1.6% in the 4th quarter. Savant Capital LLC now owns 6,041 shares of the insurance provider’s stock valued at $625,000 after acquiring an additional 96 shares during the period. Pinion Investment Advisors LLC increased its stake in Cincinnati Financial by 2.9% during the 4th quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after buying an additional 101 shares during the period. UMB Bank n.a. increased its stake in Cincinnati Financial by 11.6% during the 4th quarter. UMB Bank n.a. now owns 1,004 shares of the insurance provider’s stock worth $104,000 after buying an additional 104 shares during the period. Sterling Investment Counsel LLC increased its stake in Cincinnati Financial by 2.5% during the 4th quarter. Sterling Investment Counsel LLC now owns 4,710 shares of the insurance provider’s stock worth $487,000 after buying an additional 115 shares during the period. Finally, Trust Co. of Vermont increased its stake in Cincinnati Financial by 9.4% during the 4th quarter. Trust Co. of Vermont now owns 1,389 shares of the insurance provider’s stock worth $144,000 after buying an additional 119 shares during the period. Hedge funds and other 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.