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

Cincinnati Financial (NASDAQ:CINF) had its price target raised by Citigroup from $120.00 to $126.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

Several other analysts have also commented on CINF. TheStreet raised shares of Cincinnati Financial from a c+ rating to a b rating in a research report on Tuesday, February 6th. Piper Sandler reaffirmed a neutral rating and issued a $116.00 price objective on shares of Cincinnati Financial in a research report on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an outperform rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets raised shares of Cincinnati Financial from a market perform rating to an outperform rating and increased their price objective for the company from $125.00 to $135.00 in a research report on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $123.57.

Cincinnati Financial Stock Up 0.2 %

Shares of Cincinnati Financial stock opened at $117.07 on Tuesday. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.44 and a beta of 0.63. The firm’s 50-day moving average is $116.41 and its two-hundred day moving average is $108.23. Cincinnati Financial has a 1 year low of $95.01 and a 1 year high of $124.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.95 by $0.33. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $2.02 billion. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. As a group, research analysts expect that Cincinnati Financial will post 6.2 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.81 per share. The ex-dividend date was Monday, March 18th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 dividend on an annualized basis and a yield of 2.77%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 27.76%.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors have recently bought and sold shares of CINF. American Century Companies Inc. grew its stake in Cincinnati Financial by 14.4% in the 1st quarter. American Century Companies Inc. now owns 12,234 shares of the insurance provider’s stock valued at $1,663,000 after acquiring an additional 1,536 shares during the period. Raymond James Trust N.A. acquired a new stake in Cincinnati Financial in the 1st quarter valued at $779,000. Cibc World Market Inc. acquired a new stake in Cincinnati Financial in the 1st quarter valued at $713,000. Blair William & Co. IL boosted its stake in Cincinnati Financial by 12.1% during the 1st quarter. Blair William & Co. IL now owns 3,319 shares of the insurance provider’s stock worth $451,000 after purchasing an additional 357 shares during the last quarter. Finally, Aviva PLC boosted its stake in Cincinnati Financial by 56.5% during the 1st quarter. Aviva PLC now owns 92,169 shares of the insurance provider’s stock worth $12,531,000 after purchasing an additional 33,270 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Company Profile

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.