Cincinnati Financial (NASDAQ:CINF) Price Target Cut to $177.00 by Analysts at Bank of America

Cincinnati Financial (NASDAQ:CINF) had its price objective lowered by Bank of America from $178.00 to $177.00 in a report issued on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the insurance provider’s stock.

Several other research firms also recently weighed in on CINF. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Keefe, Bruyette & Woods dropped their target price on shares of Cincinnati Financial from $191.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Piper Sandler raised their target price on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, March 24th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.75.

Cincinnati Financial Stock Performance

Shares of CINF opened at $163.35 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $162.87 and a 200-day simple moving average of $162.20. Cincinnati Financial has a 52-week low of $126.45 and a 52-week high of $174.27. The company has a market capitalization of $25.43 billion, a PE ratio of 10.77, a P/E/G ratio of 3.68 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $3.14 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts predict that Cincinnati Financial will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s payout ratio is presently 24.79%.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth about $29,000. LRI Investments LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth about $29,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth about $30,000. Finally, Quent Capital LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth about $34,000. 65.24% of the stock is currently owned by hedge funds and other 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.