Cincinnati Financial (NASDAQ:CINF) Downgraded to Neutral Rating by Bank of America

Cincinnati Financial (NASDAQ:CINF) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat reports. They currently have a $193.00 price objective on the insurance provider’s stock. Bank of America‘s target price would indicate a potential upside of 6.44% from the stock’s current price.

Other analysts have also issued research reports about the company. Roth Capital upped their target price on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Finally, Piper Sandler boosted their price target on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.60.

Cincinnati Financial Trading Down 0.7%

Shares of CINF stock opened at $181.33 on Thursday. The business has a 50-day moving average price of $174.45 and a two-hundred day moving average price of $167.00. Cincinnati Financial has a 12-month low of $143.87 and a 12-month high of $194.81. The company has a quick ratio of 0.28, a current ratio of 0.31 and a debt-to-equity ratio of 0.05. The firm has a market cap of $27.83 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 3.76 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $2.71 billion. Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. During the same quarter last year, the company posted $1.97 earnings per share. Equities analysts anticipate that Cincinnati Financial will post 8.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Cincinnati Financial

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after purchasing an additional 25,888 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Cincinnati Financial during the fourth quarter valued at $1,231,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Cincinnati Financial by 22.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider’s stock valued at $2,870,000 after buying an additional 3,216 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth about $12,002,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Cincinnati Financial by 3.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider’s stock worth $58,017,000 after buying an additional 10,483 shares during the period. 65.24% of the stock is owned by institutional investors.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.