Cincinnati Financial Corporation (NASDAQ:CINF) Given Consensus Recommendation of “Buy” by Analysts

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) have earned a consensus rating of “Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $183.25.

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Bank of America dropped their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Roth Mkm increased their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler raised their target price on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock opened at $192.03 on Friday. The stock has a market capitalization of $29.71 billion, a P/E ratio of 10.98, a PEG ratio of 4.15 and a beta of 0.54. Cincinnati Financial has a twelve month low of $143.87 and a twelve month high of $192.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $168.51 and its 200 day moving average price is $164.98.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Cincinnati Financial will post 8.66 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.0%. Cincinnati Financial’s payout ratio is presently 21.50%.

Institutional Trading of Cincinnati Financial

A number of institutional investors have recently made changes to their positions in CINF. Vanguard Group Inc. lifted its position in Cincinnati Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock worth $3,221,579,000 after purchasing an additional 123,110 shares during the period. State Street Corp boosted its position in shares of Cincinnati Financial by 0.3% in the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after purchasing an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cincinnati Financial by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after buying an additional 97,761 shares during the period. Geode Capital Management LLC boosted its stake in Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after purchasing an additional 25,888 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after buying an additional 784,584 shares during the period. 65.24% of the stock is owned by institutional investors and hedge funds.

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.