Cincinnati Financial (NASDAQ:CINF) Price Target Raised to $168.00 at Bank of America

Cincinnati Financial (NASDAQ:CINF) had its target price upped by Bank of America from $149.00 to $168.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the insurance provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Roth Mkm boosted their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Citigroup upgraded Cincinnati Financial from a neutral rating to a buy rating and increased their price target for the company from $126.00 to $135.00 in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial has a consensus rating of Moderate Buy and an average target price of $136.29.

Cincinnati Financial Trading Up 1.0 %

Shares of CINF opened at $136.39 on Thursday. 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 52-week low of $96.86 and a 52-week high of $139.34. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.62 and a beta of 0.66. The business’s fifty day moving average is $133.84 and its 200-day moving average is $124.07.

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

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.38%. Cincinnati Financial’s dividend payout ratio is 21.56%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Cincinnati Financial by 1.1% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after buying an additional 16,451 shares during the period. Dimensional Fund Advisors LP increased its position in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock valued at $159,360,000 after purchasing an additional 187,934 shares during the period. Bahl & Gaynor Inc. raised its holdings 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 worth $131,739,000 after purchasing an additional 107,081 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock worth $115,758,000 after purchasing an additional 277,550 shares during the period. Finally, Boston Trust Walden Corp boosted its stake in shares of Cincinnati Financial by 7.8% in the 2nd quarter. Boston Trust Walden Corp now owns 757,795 shares of the insurance provider’s stock valued at $89,496,000 after purchasing an additional 55,033 shares during the last quarter. 65.24% of the stock is owned by 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.