Cincinnati Financial (NASDAQ:CINF) PT Raised to $168.00 at Bank of America

Cincinnati Financial (NASDAQ:CINF) had its price target raised by Bank of America from $149.00 to $168.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Citigroup upgraded shares of Cincinnati Financial from a neutral rating to a buy rating and raised their price objective for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Finally, Roth Mkm upped their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a buy rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial has an average rating of Moderate Buy and an average price target of $136.29.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $136.39 on Thursday. Cincinnati Financial has a twelve month low of $96.86 and a twelve month high of $139.34. The company has a market cap of $21.35 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The business’s 50 day moving average price is $133.84 and its two-hundred day moving average price is $124.07. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Cincinnati Financial will post 6.58 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.38%. Cincinnati Financial’s dividend payout ratio is presently 21.56%.

Institutional Investors Weigh In On Cincinnati Financial

Several institutional investors have recently made changes to their positions in the stock. Moisand Fitzgerald Tamayo LLC acquired a new position in Cincinnati Financial in the 3rd quarter valued at $25,000. Rothschild Investment LLC bought a new position in shares of Cincinnati Financial in the second quarter worth $29,000. Future Financial Wealth Managment LLC bought a new position in shares of Cincinnati Financial in the third quarter worth $29,000. Raleigh Capital Management Inc. acquired a new position in Cincinnati Financial in the fourth quarter valued at about $31,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 80 shares during the period. 65.24% of the stock is currently owned by institutional investors.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.