Cincinnati Financial (NASDAQ:CINF) Stock Rating Reaffirmed by Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Cincinnati Financial (NASDAQ:CINF - Free Report) in a report issued on Monday morning, Benzinga reports. Piper Sandler currently has a $116.00 target price on the insurance provider's stock.

Several other research firms have also issued reports on CINF. TheStreet raised Cincinnati Financial from a c+ rating to a b rating in a research note on Tuesday, February 6th. BMO Capital Markets raised Cincinnati Financial from a market perform rating to an outperform rating and lifted their price objective for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Finally, Janney Montgomery Scott assumed coverage on Cincinnati Financial in a research note on Thursday, December 14th. They set a neutral rating and a $110.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $117.57.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock traded down $2.00 during trading hours on Monday, reaching $122.17. The company had a trading volume of 663,206 shares, compared to its average volume of 937,108. Cincinnati Financial has a one year low of $95.01 and a one year high of $124.35. The business has a fifty day simple moving average of $114.44 and a 200 day simple moving average of $107.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $19.14 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 1.34 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company earned $1.27 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts anticipate that Cincinnati Financial will post 6.18 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th will be paid a dividend of $0.81 per share. The ex-dividend date is Monday, March 18th. This represents a $3.24 annualized dividend and a yield of 2.65%. This is a positive change from Cincinnati Financial's previous quarterly dividend of $0.75. Cincinnati Financial's payout ratio is 27.76%.

Institutional Investors Weigh In On Cincinnati Financial

Several hedge funds have recently added to or reduced their stakes in CINF. Vanguard Group Inc. increased its holdings in shares of Cincinnati Financial by 1.2% in the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider's stock worth $2,453,379,000 after buying an additional 211,402 shares during the period. State Street Corp increased its holdings in shares of Cincinnati Financial by 4.1% in the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider's stock worth $1,246,056,000 after buying an additional 360,552 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cincinnati Financial by 2.1% in the first quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider's stock worth $373,978,000 after buying an additional 67,706 shares during the period. Bank of America Corp DE increased its holdings in shares of Cincinnati Financial by 1.4% in the first quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider's stock worth $340,478,000 after buying an additional 42,128 shares during the period. Finally, London Co. of Virginia increased its holdings in shares of Cincinnati Financial by 7.8% in the third quarter. London Co. of Virginia now owns 2,773,076 shares of the insurance provider's stock worth $283,658,000 after buying an additional 200,414 shares during the period. Institutional investors own 65.24% of the company's stock.

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.