Cincinnati Financial Co. (NASDAQ:CINF) has been assigned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $103.75.
A number of research analysts recently issued reports on CINF shares. MKM Partners reiterated a “buy” rating and set a $120.00 price objective (up from $100.00) on shares of Cincinnati Financial in a report on Friday, May 24th. Royal Bank of Canada increased their price target on Cincinnati Financial to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. BidaskClub raised Cincinnati Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Credit Suisse Group raised Cincinnati Financial from a “neutral” rating to an “outperform” rating and increased their price target for the company from $90.00 to $110.00 in a research report on Friday, May 17th.
A number of hedge funds and other institutional investors have recently modified their holdings of CINF. Nuveen Asset Management LLC boosted its position in Cincinnati Financial by 21,659.3% during the second quarter. Nuveen Asset Management LLC now owns 877,987 shares of the insurance provider’s stock valued at $91,021,000 after purchasing an additional 873,952 shares during the last quarter. APG Asset Management N.V. acquired a new position in Cincinnati Financial during the second quarter valued at approximately $66,674,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Cincinnati Financial by 745.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 631,180 shares of the insurance provider’s stock valued at $54,218,000 after buying an additional 556,489 shares during the last quarter. First Trust Advisors LP lifted its position 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 buying an additional 492,556 shares during the last quarter. Finally, BlackRock Inc. lifted its position 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 buying an additional 398,543 shares during the last quarter. 63.79% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:CINF traded up $0.27 during mid-day trading on Friday, reaching $113.93. 392,720 shares of the stock were exchanged, compared to its average volume of 693,388. 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 company has a market cap of $18.40 billion, a P/E ratio of 34.01 and a beta of 0.64. Cincinnati Financial has a one year low of $71.01 and a one year high of $115.25. The stock’s 50 day simple moving average is $108.87 and its 200-day simple moving average is $97.96.
Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.21. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. Cincinnati Financial’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Analysts anticipate that Cincinnati Financial will post 3.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 18th will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, September 17th. This represents a $2.24 annualized dividend and a yield of 1.97%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 66.87%.
About Cincinnati Financial
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.
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