Keefe, Bruyette & Woods Lowers Cincinnati Financial (NASDAQ:CINF) Price Target to $190.00

Key Points

• Keefe, Bruyette & Woods lowered Cincinnati Financial’s price target from $201 to $190 while maintaining a “market perform” rating, implying 7.15% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $195.40.
• Cincinnati Financial shares fell 1.2% to $177.32 after the company reported quarterly EPS of $1.43, below the $1.82 analyst consensus, despite revenue of $4.27 billion.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) had its price target lowered by investment analysts at Keefe, Bruyette & Woods from $201.00 to $190.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "market perform" rating on the insurance provider's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 7.15% from the company's previous close.

Other equities research analysts have also issued reports about the company. Bank of America lowered Cincinnati Financial from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Cincinnati Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, June 26th. Finally, Roth Capital increased their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial has an average rating of "Moderate Buy" and a consensus target price of $195.40.

Cincinnati Financial Trading Down 1.2%

Shares of CINF traded down $2.10 during mid-day trading on Wednesday, reaching $177.32. The company had a trading volume of 210,965 shares, compared to its average volume of 787,256. The stock has a market cap of $27.21 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 3.64 and a beta of 0.54. The firm has a fifty day simple moving average of $175.21 and a 200-day simple moving average of $167.42. Cincinnati Financial has a fifty-two week low of $149.21 and a fifty-two week high of $194.81. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

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 analysts' consensus estimates of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates 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 previous year, the company earned $1.97 earnings per share. On average, sell-side analysts anticipate that Cincinnati Financial will post 8.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CINF. Geode Capital Management LLC grew its position in shares of Cincinnati Financial by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider's stock worth $671,265,000 after buying an additional 25,888 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Cincinnati Financial in the fourth quarter valued at $1,231,000. Sequoia Financial Advisors LLC boosted its stake in Cincinnati Financial by 22.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider's stock valued at $2,870,000 after acquiring an additional 3,216 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Cincinnati Financial by 11.2% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 131,755 shares of the insurance provider's stock valued at $21,633,000 after acquiring an additional 13,217 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Cincinnati Financial by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider's stock worth $58,017,000 after acquiring an additional 10,483 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source