Analysts Set Cincinnati Financial Corporation (NASDAQ:CINF) PT at $192.40

Cincinnati Financial Corporation (NASDAQ:CINF) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $192.40.

CINF has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Roth Capital boosted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Atlantic Securities set a $197.00 price target on Cincinnati Financial in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th.

Cincinnati Financial Price Performance

Shares of NASDAQ:CINF opened at $182.81 on Thursday. The firm has a market capitalization of $28.28 billion, a PE ratio of 10.45, a P/E/G ratio of 3.74 and a beta of 0.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $173.56 and a two-hundred day moving average price of $166.56. Cincinnati Financial has a twelve month low of $143.87 and a twelve month high of $194.81.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Equities analysts forecast that Cincinnati Financial will post 8.76 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bison Wealth LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cincinnati Financial by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock worth $2,823,000 after purchasing an additional 525 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares during the period. Federated Hermes Inc. bought a new position in Cincinnati Financial in the 2nd quarter valued at $101,000. Finally, Cerity Partners LLC grew its position in shares of Cincinnati Financial by 10.8% during the 2nd quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock valued at $7,115,000 after purchasing an additional 4,674 shares in the last quarter. 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.