Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $191.00

by · The Cerbat Gem

Cincinnati Financial (NASDAQ:CINF – Get Free Report) had its price objective boosted by analysts at Keefe, Bruyette & Woods from $180.00 to $191.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 18.27% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Roth Capital reissued a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Finally, Piper Sandler increased their target price on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $170.75.

Read Our Latest Research Report on Cincinnati Financial

Cincinnati Financial Stock Down 0.3%

CINF stock traded down $0.47 during mid-day trading on Tuesday, reaching $161.49. The company had a trading volume of 129,320 shares, compared to its average volume of 428,457. The firm has a fifty day simple moving average of $163.45 and a 200 day simple moving average of $156.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $25.20 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 3.64 and a beta of 0.66. Cincinnati Financial has a fifty-two week low of $123.01 and a fifty-two week high of $169.86.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its quarterly earnings data on Monday, October 27th. The insurance provider reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.84. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cincinnati Financial had a return on equity of 8.51% and a net margin of 17.57%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Analysts forecast that Cincinnati Financial will post 5.36 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dirk J. Debbink bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average cost of $153.98 per share, with a total value of $153,980.00. Following the transaction, the director directly owned 58,482 shares of the company’s stock, valued at approximately $9,005,058.36. This represents a 1.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On Cincinnati Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. acquired a new stake in shares of Cincinnati Financial during the second quarter worth about $25,000. LRI Investments LLC purchased a new position in Cincinnati Financial during the 3rd quarter worth approximately $29,000. Redmont Wealth Advisors LLC acquired a new position in Cincinnati Financial during the third quarter worth approximately $30,000. Quent Capital LLC purchased a new stake in Cincinnati Financial in the third quarter valued at approximately $34,000. Finally, AlphaQuest LLC boosted its holdings in shares of Cincinnati Financial by 714.3% in the second quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 200 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

About Cincinnati Financial

(Get Free Report)

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.

See Also