Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $191.00

Cincinnati Financial (NASDAQ:CINF) had its price target raised by Keefe, Bruyette & Woods from $180.00 to $191.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Piper Sandler boosted their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Finally, Roth Capital restated a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average price target of $170.75.

Cincinnati Financial Stock Up 1.3%

CINF opened at $165.19 on Tuesday. Cincinnati Financial has a twelve month low of $123.01 and a twelve month high of $169.86. The company’s 50-day moving average price is $164.10 and its two-hundred day moving average price is $156.75. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 3.67 and a beta of 0.66. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, beating the consensus estimate of $2.01 by $0.84. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business earned $1.42 earnings per share. Cincinnati Financial’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts expect that Cincinnati Financial will post 5.36 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, December 22nd. Cincinnati Financial’s payout ratio is 25.89%.

Insider Buying and Selling at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk J. Debbink acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the completion of the transaction, the director owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This represents a 1.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. purchased a new stake in Cincinnati Financial during the second quarter valued at about $25,000. LRI Investments LLC purchased a new position in shares of Cincinnati Financial in the third quarter worth about $29,000. Redmont Wealth Advisors LLC bought a new stake in Cincinnati Financial in the third quarter valued at approximately $30,000. Quent Capital LLC bought a new stake in Cincinnati Financial during the 3rd quarter valued at $34,000. Finally, AlphaQuest LLC boosted its holdings in shares of Cincinnati Financial by 714.3% during the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 200 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

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.