Cincinnati Financial (NASDAQ:CINF) Given New $143.00 Price Target at Keefe, Bruyette & Woods

Cincinnati Financial (NASDAQ:CINF) had its price target hoisted by Keefe, Bruyette & Woods from $136.00 to $143.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the insurance provider’s stock.

CINF has been the topic of several other reports. BMO Capital Markets raised Cincinnati Financial from a market perform rating to an outperform rating and upped their price objective for the stock from $125.00 to $135.00 in a report on Monday, March 25th. TheStreet raised Cincinnati Financial from a c+ rating to a b rating in a report on Tuesday, February 6th. Janney Montgomery Scott assumed coverage on Cincinnati Financial in a report on Thursday, December 14th. They set a neutral rating and a $110.00 price objective on the stock. Finally, Piper Sandler reaffirmed a neutral rating and set a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $121.29.

Cincinnati Financial Stock Up 0.8 %

NASDAQ CINF opened at $120.84 on Wednesday. The stock’s 50 day moving average is $115.91 and its 200 day moving average is $107.83. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. Cincinnati Financial has a 12 month low of $95.01 and a 12 month high of $124.35. The stock has a market cap of $18.93 billion, a PE ratio of 10.35, a P/E/G ratio of 1.32 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.33. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 EPS. Research analysts predict that Cincinnati Financial will post 6.18 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Monday, March 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.68%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s payout ratio is currently 27.76%.

Hedge Funds Weigh In On Cincinnati Financial

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Cincinnati Financial by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock valued at $2,453,379,000 after acquiring an additional 211,402 shares during the last quarter. State Street Corp grew its position in Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after acquiring an additional 360,552 shares during the last quarter. Geode Capital Management LLC grew its position in Cincinnati Financial by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider’s stock valued at $373,978,000 after acquiring an additional 67,706 shares during the last quarter. Bank of America Corp DE grew its position in Cincinnati Financial by 1.4% in the 1st quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock valued at $340,478,000 after acquiring an additional 42,128 shares during the last quarter. Finally, London Co. of Virginia grew its position in Cincinnati Financial by 7.8% in the 3rd quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider’s stock valued at $283,658,000 after acquiring an additional 200,414 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.