Buckingham Research Increases Cincinnati Financial (NASDAQ:CINF) Price Target to $100.00

Cincinnati Financial (NASDAQ:CINF) had its price objective upped by Buckingham Research from $92.00 to $100.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. Buckingham Research currently has a neutral rating on the insurance provider’s stock.

A number of other analysts also recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Cincinnati Financial to $105.00 and gave the company a sector perform rating in a report on Thursday, August 1st. They noted that the move was a valuation call. BidaskClub downgraded shares of Cincinnati Financial from a strong-buy rating to a buy rating in a report on Thursday. Credit Suisse Group raised shares of Cincinnati Financial from a neutral rating to an outperform rating and increased their price target for the company from $90.00 to $110.00 in a report on Friday, May 17th. Finally, MKM Partners reissued a buy rating and issued a $120.00 price target (up from $100.00) on shares of Cincinnati Financial in a report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $106.40.

NASDAQ:CINF traded down $0.29 during midday trading on Thursday, reaching $112.95. The stock had a trading volume of 379,356 shares, compared to its average volume of 690,852. Cincinnati Financial has a 1-year low of $71.01 and a 1-year high of $115.56. The firm’s fifty day simple moving average is $109.67 and its 200-day simple moving average is $98.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $18.26 billion, a P/E ratio of 33.72 and a beta of 0.64.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Tuesday, July 30th. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.21. Cincinnati Financial had a net margin of 18.28% and a return on equity of 7.17%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the business posted $0.81 EPS. Cincinnati Financial’s revenue was up 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cincinnati Financial will post 3.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, September 17th. Cincinnati Financial’s payout ratio is 66.87%.

Large investors have recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth about $25,000. Kavar Capital Partners LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth about $26,000. Virtus ETF Advisers LLC bought a new position in shares of Cincinnati Financial during the 2nd quarter worth about $29,000. CSat Investment Advisory L.P. lifted its holdings in shares of Cincinnati Financial by 42.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 380 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 113 shares during the period. Finally, Hanson & Doremus Investment Management bought a new position in shares of Cincinnati Financial during the 2nd quarter worth about $40,000. 63.94% of the stock is owned by institutional investors.

About Cincinnati Financial

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.

Featured Article: Why is the LIBOR significant?

Receive News & Ratings for Cincinnati Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Financial and related companies with MarketBeat.com's FREE daily email newsletter.