Cincinnati Financial (NASDAQ:CINF) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Cincinnati Financial (NASDAQ:CINF) from a buy rating to a neutral rating in a research note published on Thursday, Marketbeat reports. The brokerage currently has $193.00 price objective on the insurance provider’s stock, down from their prior price objective of $197.00.

Several other equities research analysts also recently commented on the stock. Roth Capital upped their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.60.

Cincinnati Financial Stock Performance

Shares of CINF opened at $177.68 on Thursday. Cincinnati Financial has a 1 year low of $143.87 and a 1 year high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.28. The stock’s fifty day moving average price is $174.77 and its two-hundred day moving average price is $167.16. The firm has a market cap of $27.27 billion, a PE ratio of 8.38, a PEG ratio of 3.71 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $1.97 EPS. On average, equities research analysts forecast that Cincinnati Financial will post 8.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CINF. Lodestone Wealth Management LLC purchased a new stake in shares of Cincinnati Financial in the fourth quarter worth about $25,000. Motiv8 Investments LLC purchased a new position in Cincinnati Financial during the fourth quarter valued at approximately $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Cincinnati Financial during the first quarter valued at approximately $34,000. DV Equities LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $36,000. Finally, Legacy Wealth Managment LLC ID increased its holdings in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.