BidaskClub downgraded shares of Cincinnati Financial (NASDAQ:CINF) from a strong-buy rating to a buy rating in a report published on Thursday, BidAskClub reports.

Other research analysts have also recently issued reports about the company. MKM Partners restated a buy rating and set a $120.00 price target (up from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. Royal Bank of Canada upped their price target on Cincinnati Financial to $105.00 and gave the stock a sector perform rating in a research note on Thursday, August 1st. They noted that the move was a valuation call. Finally, Credit Suisse Group upgraded Cincinnati Financial from a neutral rating to an outperform rating and upped their price target for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cincinnati Financial presently has a consensus rating of Buy and an average price target of $106.40.

NASDAQ:CINF traded down $0.29 during trading hours on Thursday, reaching $112.95. 379,356 shares of the stock were exchanged, compared to its average volume of 690,852. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $109.67 and a two-hundred day moving average of $98.79. Cincinnati Financial has a twelve month low of $71.01 and a twelve month high of $115.56. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 33.72 and a beta of 0.64.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Tuesday, July 30th. The insurance provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was up 22.8% compared to the same quarter last year. On average, research analysts forecast that Cincinnati Financial will post 3.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 18th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 66.87%.

Several hedge funds and other institutional investors have recently made changes to their positions in CINF. Nuveen Asset Management LLC raised its stake in shares of Cincinnati Financial by 21,659.3% in the second quarter. Nuveen Asset Management LLC now owns 877,987 shares of the insurance provider’s stock valued at $91,021,000 after acquiring an additional 873,952 shares in the last quarter. APG Asset Management N.V. acquired a new stake in shares of Cincinnati Financial in the second quarter valued at $66,674,000. First Trust Advisors LP raised its stake in shares of Cincinnati Financial by 80.8% in the first quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after acquiring an additional 492,556 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cincinnati Financial by 3.1% in the second quarter. BlackRock Inc. now owns 13,293,456 shares of the insurance provider’s stock valued at $1,378,132,000 after acquiring an additional 398,543 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Cincinnati Financial by 2.0% in the second quarter. Vanguard Group Inc. now owns 18,879,406 shares of the insurance provider’s stock valued at $1,957,228,000 after acquiring an additional 371,070 shares in the last quarter. Institutional investors and hedge funds own 63.94% of the company’s stock.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

Further Reading: What does a neutral rating on stocks mean?

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