Cincinnati Financial (NASDAQ:CINF) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Cincinnati Financial shares rose above their 200-day moving average of $168.01, reaching $173.78 before closing at $172.47. The stock was down 0.4% in the session.
• Analyst sentiment remains moderately positive, with an average rating of “Moderate Buy” and a consensus price target of $195.40, despite several recent target reductions and a Bank of America downgrade to “neutral.”
• The insurer reported quarterly EPS of $1.43, missing estimates of $1.82, while revenue of $4.27 billion exceeded expectations. Institutional investors own 65.24% of the company’s shares.

Shares of Cincinnati Financial Corporation (NASDAQ:CINF - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $168.01 and traded as high as $173.78. Cincinnati Financial shares last traded at $172.47, with a volume of 481,995 shares.

Analyst Ratings Changes

CINF has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price objective on Cincinnati Financial from $201.00 to $190.00 and set a "market perform" rating on the stock in a report on Wednesday, August 5th. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Bank of America cut shares of Cincinnati Financial from a "buy" rating to a "neutral" rating and reduced their price target for the company from $197.00 to $193.00 in a research report on Thursday, July 30th. Piper Sandler lifted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $195.40.

Cincinnati Financial Stock Down 0.4%

The stock has a 50 day moving average price of $177.21 and a 200-day moving average price of $168.01. The stock has a market capitalization of $26.47 billion, a P/E ratio of 8.14, a PEG ratio of 3.60 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The company had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $2.71 billion. Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.During the same quarter in the prior year, the firm posted $1.97 EPS. As a group, research analysts expect that Cincinnati Financial Corporation will post 8.37 EPS for the current fiscal year.

Institutional Trading of Cincinnati Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CINF. Keating Financial Advisory Services Inc. bought a new position in shares of Cincinnati Financial in the second quarter worth approximately $27,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial during the 4th quarter valued at $29,000. Covestor Ltd raised its holdings in Cincinnati Financial by 98.8% during the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider's stock valued at $31,000 after buying an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Cincinnati Financial during the 1st quarter valued at $34,000. Finally, DV Equities LLC purchased a new stake in Cincinnati Financial during the 4th quarter valued at $36,000. Institutional investors own 65.24% of the company's stock.

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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