Keefe, Bruyette & Woods Issues Positive Forecast for Cincinnati Financial (NASDAQ:CINF) Stock Price

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

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

Cincinnati Financial Stock Up 0.1%

Cincinnati Financial stock opened at $162.12 on Tuesday. The company has a market capitalization of $25.29 billion, a PE ratio of 12.06, a PEG ratio of 3.65 and a beta of 0.66. Cincinnati Financial has a 12-month low of $123.01 and a 12-month high of $169.86. The firm’s fifty day moving average is $163.66 and its 200 day moving average is $156.64. 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 results on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the company posted $1.42 earnings per share. The business’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that Cincinnati Financial will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.87 per share. The ex-dividend date is Monday, December 22nd. This represents a $3.48 annualized dividend and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio (DPR) is 25.89%.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of Cincinnati Financial stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average price of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director directly owned 58,482 shares in the company, valued at $9,005,058.36. The trade was a 1.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Institutional Trading of Cincinnati Financial

A number of hedge funds have recently bought and sold shares of the business. American National Bank & Trust bought a new position in Cincinnati Financial in the 2nd quarter worth $506,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Cincinnati Financial by 37.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 242,604 shares of the insurance provider’s stock worth $36,129,000 after buying an additional 66,005 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Cincinnati Financial by 0.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,728 shares of the insurance provider’s stock worth $3,772,000 after acquiring an additional 210 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Cincinnati Financial by 120.1% in the second quarter. Osaic Holdings Inc. now owns 66,425 shares of the insurance provider’s stock worth $9,857,000 after purchasing an additional 36,250 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its holdings in Cincinnati Financial by 5.5% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 64,669 shares of the insurance provider’s stock worth $9,573,000 after buying an additional 3,362 shares during the period. 65.24% of the stock is currently 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.