Cincinnati Financial Corporation (NASDAQ:CINF) Receives Average Rating of “Buy” from Analysts

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) have earned a consensus recommendation of “Buy” from the five analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $183.25.

Several research firms recently weighed in on CINF. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, May 27th. Roth Mkm raised their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Piper Sandler raised their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th.

Hedge Funds Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cibc World Market Inc. bought a new position in Cincinnati Financial during the third quarter worth $2,511,000. Western Wealth Management LLC bought a new position in Cincinnati Financial during the third quarter worth $1,622,000. Johnson Investment Counsel Inc. boosted its position in Cincinnati Financial by 2.8% during the third quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock worth $222,238,000 after purchasing an additional 37,913 shares during the period. Meiji Yasuda Asset Management Co Ltd. bought a new position in Cincinnati Financial during the third quarter worth $1,503,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Cincinnati Financial by 74.8% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,339 shares of the insurance provider’s stock worth $2,267,000 after purchasing an additional 6,135 shares during the period. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Price Performance

NASDAQ:CINF opened at $158.00 on Wednesday. Cincinnati Financial has a 1-year low of $143.37 and a 1-year high of $174.27. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $162.57 and a 200 day simple moving average of $163.53. The stock has a market capitalization of $24.44 billion, a PE ratio of 9.03, a P/E/G ratio of 3.41 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period last year, the business earned ($0.24) earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is 21.50%.

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.