Keefe, Bruyette & Woods Issues Positive Forecast for Cincinnati Financial (NASDAQ:CINF) Stock Price

Key Points

• Keefe, Bruyette & Woods raised its price target on Cincinnati Financial to $191 and kept an "outperform" rating, implying about a 16.63% upside from the prior close.
• Cincinnati Financial beat quarterly estimates, reporting $2.10 EPS versus $1.93 expected and $2.86 billion in revenue (up 11.6% year-over-year), with analysts forecasting about 8.39 EPS for the current fiscal year.
• The stock traded around $163.77 (P/E 9.36) with a consensus analyst rating of Buy and an average price target of $178.75, while institutional investors hold roughly 65.24% of the shares.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) had its price objective increased by research analysts at Keefe, Bruyette & Woods from $190.00 to $191.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 16.63% from the stock's previous close.

Several other equities analysts have also weighed in on CINF. Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Roth Mkm increased their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen lowered shares of Cincinnati Financial from a "buy" rating to a "hold" rating in a research report on Sunday, February 8th. Finally, Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial has an average rating of "Buy" and a consensus price target of $178.75.

Cincinnati Financial Stock Performance

CINF traded down $1.19 during trading on Wednesday, hitting $163.77. 45,973 shares of the company traded hands, compared to its average volume of 762,043. The firm has a market cap of $25.50 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 4.37 and a beta of 0.63. The stock's fifty day moving average is $162.67 and its 200 day moving average is $162.48. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. Cincinnati Financial has a one year low of $135.86 and a one year high of $174.27.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.60 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.66%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.24) earnings per share. As a group, equities analysts predict that Cincinnati Financial will post 8.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CINF. Cibc World Market Inc. bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $2,511,000. Strs Ohio boosted its position in shares of Cincinnati Financial by 322.9% in the third quarter. Strs Ohio now owns 93,483 shares of the insurance provider's stock valued at $14,780,000 after acquiring an additional 71,378 shares during the period. Western Wealth Management LLC bought a new position in shares of Cincinnati Financial in the third quarter valued at approximately $1,622,000. Johnson Investment Counsel Inc. boosted its position in shares of Cincinnati Financial by 2.8% in the third quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider's stock valued at $222,238,000 after acquiring an additional 37,913 shares during the period. Finally, AE Wealth Management LLC boosted its position in shares of Cincinnati Financial by 1,102.8% in the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider's stock valued at $8,063,000 after acquiring an additional 46,757 shares during the period. Institutional investors own 65.24% of the company's stock.

Cincinnati Financial Company Profile

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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