Piper Sandler Raises Cincinnati Financial (NASDAQ:CINF) Price Target to $126.00

Cincinnati Financial (NASDAQ:CINF - Get Free Report) had its price target raised by stock analysts at Piper Sandler from $116.00 to $126.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the insurance provider's stock. Piper Sandler's price objective would suggest a potential downside of 11.27% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Roth Mkm boosted their price target on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Bank of America boosted their price target on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $138.57.

Cincinnati Financial Price Performance

Shares of Cincinnati Financial stock traded down $2.49 on Tuesday, hitting $142.00. 670,602 shares of the company traded hands, compared to its average volume of 709,117. The stock has a market capitalization of $22.23 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. 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 has a 52 week low of $97.72 and a 52 week high of $145.33. The business has a 50-day simple moving average of $136.33 and a 200 day simple moving average of $125.47.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 EPS. Research analysts expect that Cincinnati Financial will post 6.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CINF. Moisand Fitzgerald Tamayo LLC purchased a new position in Cincinnati Financial during the third quarter worth $25,000. Rothschild Investment LLC purchased a new position in Cincinnati Financial during the second quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial during the third quarter worth $29,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 80 shares during the period. Finally, USA Financial Formulas purchased a new stake in shares of Cincinnati Financial during the third quarter valued at $33,000. 65.24% of the stock is owned by hedge funds and other institutional investors.

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.