Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $160.00 at Roth Mkm

Cincinnati Financial (NASDAQ:CINF) had its target price increased by Roth Mkm from $140.00 to $160.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

A number of other research firms also recently issued reports on CINF. Piper Sandler increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.67.

Cincinnati Financial Trading Down 4.1 %

Shares of CINF opened at $133.67 on Wednesday. The firm has a market capitalization of $20.90 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. Cincinnati Financial has a 1-year low of $107.75 and a 1-year high of $161.74. The company has a 50-day moving average of $142.92 and a 200 day moving average of $140.47.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. On average, research analysts expect that Cincinnati Financial will post 6.33 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th will be paid a dividend of $0.87 per share. The ex-dividend date is Monday, March 24th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.81. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Cincinnati Financial

In related news, Director Dirk J. Debbink purchased 1,000 shares of Cincinnati Financial stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the completion of the transaction, the director now owns 54,500 shares in the company, valued at $8,566,855. The trade was a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Cincinnati Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Cincinnati Financial during the fourth quarter worth $223,959,000. Charles Schwab Investment Management Inc. increased its holdings in Cincinnati Financial by 26.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock worth $52,531,000 after acquiring an additional 329,435 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cincinnati Financial by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock worth $563,323,000 after acquiring an additional 185,705 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Cincinnati Financial by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock valued at $2,754,399,000 after acquiring an additional 173,417 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.