Cincinnati Financial (NASDAQ:CINF) Stock Rating Lowered by Bank of America

Cincinnati Financial (NASDAQ:CINF) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $193.00 price objective on the insurance provider’s stock. Bank of America‘s price target suggests a potential upside of 6.44% from the company’s current price.

Several other equities analysts also recently commented on CINF. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Piper Sandler increased their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, Roth Capital lifted their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.60.

Cincinnati Financial Stock Performance

NASDAQ CINF opened at $181.33 on Thursday. Cincinnati Financial has a 52-week low of $143.87 and a 52-week high of $194.81. The company has a 50-day simple moving average of $174.45 and a 200 day simple moving average of $167.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.28 and a current ratio of 0.31. The company has a market capitalization of $27.83 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the firm earned $1.97 earnings per share. On average, research analysts predict that Cincinnati Financial will post 8.71 EPS for the current year.

Hedge Funds Weigh In On Cincinnati Financial

A number of large investors have recently made changes to their positions in CINF. Lodestone Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at $25,000. Motiv8 Investments LLC bought a new stake in shares of Cincinnati Financial during the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the first quarter worth about $34,000. DV Equities LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $36,000. Finally, Legacy Wealth Managment LLC ID grew its stake in Cincinnati Financial by 78.8% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 108 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

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.