Brokerages Set Cincinnati Financial Co. (NASDAQ:CINF) Target Price at $133.57

Shares of Cincinnati Financial Co. (NASDAQ:CINF) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $133.57.

Several analysts have commented on the stock. Bank of America decreased their price target on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm increased their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Citigroup raised shares of 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 report on Friday, June 28th.

Hedge Funds Weigh In On Cincinnati Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in Cincinnati Financial in the 4th quarter worth approximately $179,305,000. AQR Capital Management LLC increased its holdings in 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 buying an additional 277,550 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cincinnati Financial by 16.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after buying an additional 187,934 shares during the period. Balyasny Asset Management L.P. increased its holdings in Cincinnati Financial by 36.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 679,861 shares of the insurance provider’s stock worth $70,338,000 after buying an additional 180,355 shares during the period. Finally, Natixis acquired a new position in Cincinnati Financial in the 1st quarter worth approximately $22,053,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Stock Up 1.0 %

NASDAQ:CINF opened at $137.18 on Tuesday. Cincinnati Financial has a 1-year low of $96.86 and a 1-year high of $139.34. The company has a 50-day moving average of $129.39 and a 200 day moving average of $121.68. The firm has a market cap of $21.48 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

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

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Tuesday, September 17th. Cincinnati Financial’s payout ratio is currently 21.56%.

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.