Bank of America Cuts Cincinnati Financial (NASDAQ:CINF) Price Target to $149.00

Cincinnati Financial (NASDAQ:CINF) had its price target dropped by investment analysts at Bank of America from $151.00 to $149.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Bank of America‘s target price would suggest a potential upside of 16.67% from the company’s current price.

Other equities analysts have also issued reports about the company. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $135.00 in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.57.

Cincinnati Financial Price Performance

Shares of CINF traded up $1.89 during trading hours on Tuesday, reaching $127.71. 158,393 shares of the company’s stock traded hands, compared to its average volume of 792,629. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm’s 50 day simple moving average is $118.98 and its 200-day simple moving average is $117.16. The stock has a market cap of $19.99 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65. Cincinnati Financial has a 12 month low of $96.86 and a 12 month high of $132.69.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Cincinnati Financial will post 6.46 EPS for the current year.

Hedge Funds Weigh In On Cincinnati Financial

Several hedge funds have recently made changes to their positions in the business. Assetmark Inc. boosted its holdings in Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 174 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at about $27,000. Rothschild Investment LLC purchased a new position in shares of Cincinnati Financial during the second quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new position in Cincinnati Financial in the fourth quarter worth about $31,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Cincinnati Financial in the first quarter worth about $47,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

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.