Analysts at Bank of America began coverage on shares of Cincinnati Financial (NASDAQ:CINF – Get Rating) in a report issued on Tuesday, MarketBeat reports. The brokerage set a "neutral" rating and a $92.00 price target on the insurance provider's stock. Bank of America's price target indicates a potential downside of 0.52% from the company's current price.
A number of other equities research analysts have also weighed in on CINF. StockNews.com lowered Cincinnati Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, August 23rd. TheStreet downgraded Cincinnati Financial from a "b" rating to a "c+" rating in a research note on Wednesday, July 27th. Finally, Raymond James initiated coverage on Cincinnati Financial in a research note on Friday, September 23rd. They set a "market perform" rating on the stock. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $111.00.
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Cincinnati Financial Stock Up 1.9 %
CINF stock opened at $92.48 on Tuesday. Cincinnati Financial has a twelve month low of $88.66 and a twelve month high of $143.22. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 28.72 and a beta of 0.54. The business has a 50 day moving average price of $100.12 and a two-hundred day moving average price of $117.18. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.08.
Cincinnati Financial (NASDAQ:CINF – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The insurance provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.40). Cincinnati Financial had a return on equity of 7.45% and a net
margin of 7.59%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $1.79 earnings per share. The business's revenue for the quarter was down 64.3% on a year-over-year basis. Analysts anticipate that Cincinnati Financial will post 4.91 EPS for the current fiscal year.
Insider Activity at Cincinnati Financial
In related news, Director Dirk J. Debbink acquired 510 shares of Cincinnati Financial stock in a transaction dated Friday, July 29th. The shares were purchased at an average cost of $96.66 per share, with a total value of $49,296.60. Following the completion of the purchase, the director now owns 44,243 shares of the company's stock, valued at $4,276,528.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Dirk J. Debbink acquired 510 shares of the stock in a transaction on Friday, July 29th. The stock was acquired at an average cost of $96.66 per share, for a total transaction of $49,296.60. Following the completion of the acquisition, the director now directly owns 44,243 shares of the company's stock, valued at approximately $4,276,528.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Aaron acquired 1,030 shares of the stock in a transaction on Wednesday, August 3rd. The stock was bought at an average price of $96.33 per share, with a total value of $99,219.90. Following the completion of the acquisition, the director now directly owns 5,740 shares of the company's stock, valued at $552,934.20. The disclosure for this purchase can be found here. 2.95% of the stock is owned by insiders.
Institutional Investors Weigh In On Cincinnati Financial
A number of large investors have recently added to or reduced their stakes in CINF. Parallel Advisors LLC grew its position in shares of Cincinnati Financial by 14.9% during the 1st quarter. Parallel Advisors LLC now owns 1,158 shares of the insurance provider's stock valued at $160,000 after acquiring an additional 150 shares during the period. DNB Asset Management AS raised its position in shares of Cincinnati Financial by 11.6% during the 1st quarter. DNB Asset Management AS now owns 25,411 shares of the insurance provider's stock valued at $3,455,000 after buying an additional 2,651 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Cincinnati Financial by 49.6% during the 1st quarter. Pacer Advisors Inc. now owns 11,595 shares of the insurance provider's stock valued at $1,576,000 after buying an additional 3,844 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Cincinnati Financial by 3.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 117,063 shares of the insurance provider's stock valued at $15,916,000 after buying an additional 4,404 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Cincinnati Financial by 14.2% during the 1st quarter. IFM Investors Pty Ltd now owns 23,321 shares of the insurance provider's stock valued at $3,171,000 after buying an additional 2,900 shares in the last quarter. Institutional investors own 64.52% of the company's stock.
About Cincinnati Financial
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Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company 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.
Further Reading
- Get a free copy of the StockNews.com research report on Cincinnati Financial (CINF)
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