Cincinnati Financial (NASDAQ:CINF) Shares Gap Up After Better-Than-Expected Earnings

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report)'s stock price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $135.87, but opened at $144.21. Cincinnati Financial shares last traded at $138.13, with a volume of 119,347 shares traded.

The insurance provider reported ($0.24) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.37. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.70 billion. Cincinnati Financial had a net margin of 20.22% and a return on equity of 9.01%. Cincinnati Financial's revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $1.72 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on CINF shares. StockNews.com upgraded Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Keefe, Bruyette & Woods dropped their price objective on Cincinnati Financial from $182.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Roth Mkm boosted their target price on Cincinnati Financial from $140.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.40.

Institutional Investors Weigh In On Cincinnati Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CINF. Park National Corp OH increased its holdings in Cincinnati Financial by 0.6% during the 1st quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after purchasing an additional 72 shares during the period. Simon Quick Advisors LLC increased its stake in shares of Cincinnati Financial by 5.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,562 shares of the insurance provider's stock valued at $224,000 after buying an additional 74 shares during the period. Spire Wealth Management raised its holdings in shares of Cincinnati Financial by 77.6% in the first quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Cincinnati Financial by 0.4% in the fourth quarter. Park Avenue Securities LLC now owns 17,473 shares of the insurance provider's stock worth $2,511,000 after acquiring an additional 78 shares during the period. Finally, Tidal Investments LLC grew its holdings in Cincinnati Financial by 1.4% during the 3rd quarter. Tidal Investments LLC now owns 5,819 shares of the insurance provider's stock worth $792,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Stock Up 2.7 %

The company has a current ratio of 0.29, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market cap of $22.44 billion, a PE ratio of 9.89, a P/E/G ratio of 8.30 and a beta of 0.53. The business's 50-day simple moving average is $139.41 and its 200 day simple moving average is $142.53.

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.