Roth Mkm Forecasts Strong Price Appreciation for Cincinnati Financial (NASDAQ:CINF) Stock

Cincinnati Financial (NASDAQ:CINF) had its price target hoisted by Roth Mkm from $140.00 to $160.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the insurance provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.00.

Cincinnati Financial Stock Down 0.2 %

NASDAQ:CINF opened at $136.97 on Wednesday. Cincinnati Financial has a one year low of $109.93 and a one year high of $161.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market cap of $21.41 billion, a PE ratio of 7.04, a P/E/G ratio of 2.42 and a beta of 0.71. The firm’s 50 day simple moving average is $142.07 and its 200 day simple moving average is $140.40.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. On average, research analysts anticipate that Cincinnati Financial will post 6.33 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 24th will be paid a dividend of $0.87 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, March 24th. Cincinnati Financial’s dividend payout ratio is 16.65%.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the acquisition, the director now directly owns 54,500 shares in the company, valued at approximately $8,566,855. This trade represents a 1.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Cincinnati Financial by 1,111.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 763 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 700 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Cincinnati Financial during the 3rd quarter worth approximately $174,000. Creative Planning raised its stake in shares of Cincinnati Financial by 167.2% in the third quarter. Creative Planning now owns 143,869 shares of the insurance provider’s stock worth $19,583,000 after purchasing an additional 90,021 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cincinnati Financial by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,314 shares of the insurance provider’s stock valued at $2,221,000 after purchasing an additional 256 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Cincinnati Financial by 11.1% during the third quarter. V Square Quantitative Management LLC now owns 3,070 shares of the insurance provider’s stock valued at $418,000 after buying an additional 307 shares during the last quarter. Institutional investors and hedge funds 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.