Piper Sandler Reiterates “Neutral” Rating for Cincinnati Financial (NASDAQ:CINF)

Piper Sandler reiterated their neutral rating on shares of Cincinnati Financial (NASDAQ:CINF) in a report published on Monday morning, Benzinga reports. They currently have a $116.00 target price on the insurance provider’s stock.

Other equities research analysts have also issued research reports about the company. TheStreet raised Cincinnati Financial from a c+ rating to a b rating in a research note on Tuesday, February 6th. Janney Montgomery Scott initiated coverage on Cincinnati Financial in a research report on Thursday, December 14th. They issued a neutral rating and a $110.00 price target for the company. Finally, BMO Capital Markets raised Cincinnati Financial from a market perform rating to an outperform rating and lifted their price target for the stock from $125.00 to $135.00 in a research note on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $117.57.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $120.28 on Monday. The company has a market cap of $18.84 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.31 and a beta of 0.63. Cincinnati Financial has a one year low of $95.01 and a one year high of $124.35. The business has a fifty day moving average of $115.01 and a two-hundred day moving average of $107.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that Cincinnati Financial will post 6.18 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors 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 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. Cincinnati Financial’s dividend payout ratio (DPR) is presently 27.76%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CINF. Assetmark Inc. lifted its stake in shares of Cincinnati Financial by 252.2% during the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after buying an additional 174 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Cincinnati Financial during the 4th quarter worth $27,000. Providence Capital Advisors LLC boosted its holdings in shares of Cincinnati Financial by 11,107.1% during the first quarter. Providence Capital Advisors LLC now owns 3,138 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 3,110 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Cincinnati Financial during the fourth quarter worth $31,000. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Cincinnati Financial in the fourth quarter valued at $31,000. 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.