Cincinnati Financial (NASDAQ:CINF) Given New $190.00 Price Target at Keefe, Bruyette & Woods

Cincinnati Financial (NASDAQ:CINF) had its price objective cut by Keefe, Bruyette & Woods from $191.00 to $190.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

A number of other equities analysts have also weighed in on CINF. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Piper Sandler boosted their price objective 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. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $160.18 on Tuesday. The firm has a 50 day simple moving average of $162.63 and a 200-day simple moving average of $161.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $24.94 billion, a PE ratio of 10.56, a P/E/G ratio of 3.53 and a beta of 0.63. Cincinnati Financial has a 1-year low of $123.01 and a 1-year high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.14 earnings per share. On average, equities analysts expect that Cincinnati Financial will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.3%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is currently 24.79%.

Hedge Funds Weigh In On Cincinnati Financial

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC increased its position in Cincinnati Financial by 19.3% during the fourth quarter. Hsbc Holdings PLC now owns 395,583 shares of the insurance provider’s stock worth $64,737,000 after purchasing an additional 63,954 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Cincinnati Financial by 7.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 124,743 shares of the insurance provider’s stock worth $20,377,000 after purchasing an additional 8,326 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Cincinnati Financial by 7.7% in the fourth quarter. Corient Private Wealth LLC now owns 39,386 shares of the insurance provider’s stock worth $6,433,000 after acquiring an additional 2,829 shares in the last quarter. SHP Wealth Management acquired a new stake in shares of Cincinnati Financial in the fourth quarter worth $44,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Cincinnati Financial by 1,187.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 631 shares of the insurance provider’s stock worth $103,000 after acquiring an additional 582 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.