Cincinnati Financial Corporation (NASDAQ:CINF) Receives Average Rating of “Moderate Buy” from Analysts

Cincinnati Financial Corporation (NASDAQ:CINF) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $195.40.

A number of analysts recently issued reports on CINF shares. Bank of America lowered Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research report on Wednesday, July 15th. Roth Capital upped their price target on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Piper Sandler increased their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th.

Insiders Place Their Bets

In related news, Director Dirk Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Tuesday, August 25th. The shares were acquired at an average cost of $171.64 per share, with a total value of $171,640.00. Following the transaction, the director owned 62,059 shares in the company, valued at $10,651,806.76. This trade represents a 1.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.94% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CINF. Geode Capital Management LLC increased its holdings in Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after buying an additional 25,888 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Cincinnati Financial during the second quarter valued at about $3,585,000. GQG Partners LLC purchased a new position in Cincinnati Financial in the 2nd quarter worth approximately $216,679,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Cincinnati Financial in the fourth quarter worth $1,231,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Cincinnati Financial in the 1st quarter worth $12,002,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $169.59 on Friday. Cincinnati Financial has a 1 year low of $150.00 and a 1 year high of $194.81. The business has a fifty day simple moving average of $176.05 and a two-hundred day simple moving average of $169.13. The company has a market capitalization of $26.03 billion, a P/E ratio of 8.00, a P/E/G ratio of 3.54 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same period last year, the company earned $1.97 earnings per share. On average, analysts expect that Cincinnati Financial will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

Its principal business is property and casualty insurance, including commercial coverage for businesses, workers’ compensation, commercial auto, homeowners insurance, personal auto insurance and other personal lines. The company also offers excess and surplus lines coverage for specialized or higher-risk exposures.