Cincinnati Financial (NASDAQ:CINF) Given New $168.00 Price Target at Bank of America

Cincinnati Financial (NASDAQ:CINF) had its price objective hoisted by stock analysts at Bank of America from $149.00 to $168.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s price target suggests a potential upside of 23.18% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on CINF. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Keefe, Bruyette & Woods boosted their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Roth Mkm lifted 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $136.29.

Cincinnati Financial Trading Up 1.0 %

Shares of Cincinnati Financial stock opened at $136.39 on Thursday. The firm has a 50-day simple moving average of $133.72 and a two-hundred day simple moving average of $123.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27. Cincinnati Financial has a fifty-two week low of $96.86 and a fifty-two week high of $139.34. The company has a market cap of $21.35 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. Cincinnati Financial’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts predict that Cincinnati Financial will post 6.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. grew its holdings in Cincinnati Financial by 7.4% in the 3rd quarter. UMB Bank n.a. now owns 1,140 shares of the insurance provider’s stock valued at $155,000 after buying an additional 79 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Cincinnati Financial by 49.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 80 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Cincinnati Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,445 shares of the insurance provider’s stock worth $761,000 after purchasing an additional 80 shares during the last quarter. iA Global Asset Management Inc. raised its stake in Cincinnati Financial by 4.3% during the second quarter. iA Global Asset Management Inc. now owns 2,297 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 95 shares during the period. Finally, Argent Trust Co boosted its holdings in Cincinnati Financial by 5.0% in the 2nd quarter. Argent Trust Co now owns 2,009 shares of the insurance provider’s stock valued at $237,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.