Cincinnati Financial (NASDAQ:CINF) Given New $126.00 Price Target at Piper Sandler

Cincinnati Financial (NASDAQ:CINF) had its price target raised by Piper Sandler from $116.00 to $126.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Other equities analysts have also issued research reports about the stock. Bank of America increased their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Trading Down 0.1 %

Shares of CINF stock opened at $140.65 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $21.99 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 2.70 and a beta of 0.66. Cincinnati Financial has a 52-week low of $98.65 and a 52-week high of $145.33. The company has a 50-day simple moving average of $137.14 and a two-hundred day simple moving average of $126.03.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 earnings per share. Research analysts anticipate that Cincinnati Financial will post 6.4 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.30%. Cincinnati Financial’s payout ratio is 16.65%.

Hedge Funds Weigh In On Cincinnati Financial

Several institutional investors and hedge funds have recently made changes to their positions in CINF. AQR Capital Management LLC raised its holdings in Cincinnati Financial by 39.4% during the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after buying an additional 277,550 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Natixis purchased a new position in Cincinnati Financial during the 1st quarter valued at about $22,053,000. Bahl & Gaynor Inc. raised its position in Cincinnati Financial by 10.6% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock valued at $131,739,000 after purchasing an additional 107,081 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Cincinnati Financial by 126.4% in the 2nd quarter. TD Asset Management Inc now owns 180,009 shares of the insurance provider’s stock worth $21,259,000 after buying an additional 100,487 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

About Cincinnati Financial

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