Cincinnati Financial (NASDAQ:CINF) Lifted to “Buy” at BidaskClub

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BidaskClub upgraded shares of Cincinnati Financial (NASDAQ:CINF) from a hold rating to a buy rating in a research note published on Tuesday, BidAskClub reports.

A number of other brokerages have also recently issued reports on CINF. Credit Suisse Group cut shares of Advanced Disposal Services from an outperform rating to a neutral rating and lifted their price objective for the company from $29.00 to $33.00 in a research note on Friday, May 17th. MKM Partners lifted their price objective on shares of Warrior Met Coal to $38.00 and gave the company a buy rating in a research note on Friday, May 24th. Finally, Zacks Investment Research raised shares of Green Brick Partners from a sell rating to a hold rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Cincinnati Financial has an average rating of Buy and an average target price of $101.75.

Shares of NASDAQ:CINF opened at $106.81 on Tuesday. The company has a 50 day moving average price of $103.09. The company has a market capitalization of $17.48 billion, a PE ratio of 31.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.29 and a quick ratio of 0.29. Cincinnati Financial has a 1 year low of $69.05 and a 1 year high of $108.50.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Cincinnati Financial had a net margin of 15.97% and a return on equity of 7.35%. The firm’s quarterly revenue was up 76.4% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. As a group, sell-side analysts predict that Cincinnati Financial will post 3.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Wednesday, June 19th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Tuesday, June 18th. Cincinnati Financial’s payout ratio is presently 66.87%.

A number of hedge funds have recently modified their holdings of CINF. Norges Bank purchased a new stake in shares of Cincinnati Financial during the 4th quarter valued at approximately $107,863,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Cincinnati Financial by 745.1% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 631,180 shares of the insurance provider’s stock valued at $54,218,000 after purchasing an additional 556,489 shares during the last quarter. First Trust Advisors LP boosted its position in Cincinnati Financial by 80.8% during the 1st quarter. First Trust Advisors LP now owns 1,102,521 shares of the insurance provider’s stock valued at $94,707,000 after buying an additional 492,556 shares during the period. Janus Henderson Group PLC boosted its position in Cincinnati Financial by 132.1% during the 1st quarter. Janus Henderson Group PLC now owns 698,135 shares of the insurance provider’s stock valued at $59,970,000 after buying an additional 397,299 shares during the period. Finally, Geode Capital Management LLC boosted its position in Cincinnati Financial by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 2,228,263 shares of the insurance provider’s stock valued at $172,245,000 after buying an additional 208,449 shares during the period. 63.18% of the stock is owned by institutional investors and hedge funds.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiary, provides property casualty insurance products in the United States. The company operates in five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment provides coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.

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