Cincinnati Financial Corporation (NASDAQ:CINF) Receives Consensus Recommendation of “Moderate Buy” from Analysts
by Amy Steele · The Cerbat GemCincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $174.75.
A number of equities analysts have weighed in on CINF shares. Bank of America reduced their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $191.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler lifted their price target on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings lowered Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, March 24th.
Check Out Our Latest Report on CINF
Institutional Investors Weigh In On Cincinnati Financial
Large investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its stake in Cincinnati Financial by 19.3% in the fourth quarter. Hsbc Holdings PLC now owns 395,583 shares of the insurance provider’s stock valued at $64,737,000 after buying an additional 63,954 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Cincinnati Financial by 7.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 124,743 shares of the insurance provider’s stock valued at $20,377,000 after buying an additional 8,326 shares in the last quarter. Corient Private Wealth LLC raised its stake in Cincinnati Financial by 7.7% in the fourth quarter. Corient Private Wealth LLC now owns 39,386 shares of the insurance provider’s stock valued at $6,433,000 after buying an additional 2,829 shares in the last quarter. SHP Wealth Management acquired a new stake in Cincinnati Financial in the fourth quarter valued at $44,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Cincinnati Financial by 1,187.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 631 shares of the insurance provider’s stock valued at $103,000 after buying an additional 582 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
Cincinnati Financial Stock Down 0.1%
NASDAQ CINF traded down $0.22 during midday trading on Tuesday, hitting $163.47. 201,315 shares of the company traded hands, compared to its average volume of 748,607. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $25.45 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 3.63 and a beta of 0.63. The company’s 50-day simple moving average is $162.88 and its 200-day simple moving average is $162.15. Cincinnati Financial has a 52 week low of $126.45 and a 52 week high of $174.27.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.14 EPS. As a group, equities research analysts forecast that Cincinnati Financial will post 5.36 earnings per share for the current year.
Cincinnati Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 24.79%.
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.