Cincinnati Financial Corporation (NASDAQ:CINF) Given Average Rating of “Moderate Buy” by Brokerages

Cincinnati Financial Corporation (NASDAQ:CINF) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $192.40.

A number of research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research report on Wednesday, July 8th. Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th.

Institutional Investors Weigh In On Cincinnati Financial

Several large investors have recently modified their holdings of CINF. Norges Bank bought a new position in shares of Cincinnati Financial during the 4th quarter valued at about $270,892,000. First Trust Advisors LP grew its position in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Cincinnati Financial by 193.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after purchasing an additional 396,086 shares in the last quarter. Raymond James Financial Inc. increased its stake in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after purchasing an additional 262,715 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Cincinnati Financial during the 4th quarter worth approximately $32,692,000. 65.24% of the stock is currently owned by institutional investors.

Cincinnati Financial Price Performance

Shares of CINF opened at $179.23 on Thursday. The stock has a market cap of $27.73 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 3.69 and a beta of 0.54. Cincinnati Financial has a 1 year low of $143.87 and a 1 year high of $194.81. The stock’s 50-day moving average price is $172.95 and its two-hundred day moving average price is $166.32. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.Cincinnati Financial’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.24) EPS. On average, equities analysts predict that Cincinnati Financial will post 8.76 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm 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. The ex-dividend date was Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.1%. Cincinnati Financial’s payout ratio is currently 21.50%.

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.