Shares of Cincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $178.75.
A number of research analysts have commented on the company. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Bank of America reduced their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings downgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday. Roth Mkm raised their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th.
View Our Latest Report on CINF
Cincinnati Financial Price Performance
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.24) earnings per share. As a group, equities analysts predict that Cincinnati Financial will post 8.61 earnings per share for the current year.
Cincinnati Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial’s payout ratio is currently 21.50%.
Institutional Trading of Cincinnati Financial
Several institutional investors and hedge funds have recently bought and sold shares of CINF. Cibc World Market Inc. purchased a new position in Cincinnati Financial during the third quarter valued at $2,511,000. Strs Ohio grew its position in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock worth $14,780,000 after buying an additional 71,378 shares during the period. Western Wealth Management LLC bought a new position in shares of Cincinnati Financial in the 3rd quarter worth about $1,622,000. Johnson Investment Counsel Inc. lifted its position in Cincinnati Financial by 2.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after acquiring an additional 37,913 shares during the period. Finally, AE Wealth Management LLC lifted its position in Cincinnati Financial by 1,102.8% during the 3rd quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock valued at $8,063,000 after acquiring an additional 46,757 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
About Cincinnati Financial
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.
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