Cincinnati Financial (NASDAQ:CINF) PT Raised to $105.00

Cincinnati Financial (NASDAQ:CINF) had its price target raised by analysts at Royal Bank of Canada to $105.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has a “sector perform” rating on the insurance provider’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 1.18% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Cincinnati Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. MKM Partners reaffirmed a “buy” rating and issued a $120.00 target price (up from $100.00) on shares of Cincinnati Financial in a research note on Friday, May 24th. BidaskClub downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group raised Cincinnati Financial from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $110.00 in a research note on Friday, May 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $102.40.

Shares of CINF traded down $0.04 during midday trading on Thursday, reaching $106.25. The company had a trading volume of 744,162 shares, compared to its average volume of 689,165. Cincinnati Financial has a 1-year low of $71.01 and a 1-year high of $109.18. The company has a market capitalization of $17.35 billion, a PE ratio of 31.72 and a beta of 0.65. The business has a 50 day simple moving average of $106.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.29 and a current ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. Cincinnati Financial had a return on equity of 7.17% and a net margin of 18.28%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, sell-side analysts predict that Cincinnati Financial will post 3.6 EPS for the current year.

Several large investors have recently modified their holdings of CINF. Norges Bank acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth about $107,863,000. Robeco Institutional Asset Management B.V. increased its position in shares of Cincinnati Financial by 745.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 631,180 shares of the insurance provider’s stock worth $54,218,000 after purchasing an additional 556,489 shares during the last quarter. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 80.8% during the 1st quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock worth $94,707,000 after purchasing an additional 492,556 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Cincinnati Financial by 132.1% during the 1st quarter. Janus Henderson Group PLC now owns 698,135 shares of the insurance provider’s stock worth $59,970,000 after purchasing an additional 397,299 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Cincinnati Financial by 324.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 355,561 shares of the insurance provider’s stock worth $36,861,000 after purchasing an additional 271,747 shares during the last quarter. 63.09% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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