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

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

A number of other brokerages have also recently commented on CINF. BMO Capital Markets upgraded Cincinnati Financial from a market perform rating to an outperform rating and increased their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. TheStreet upgraded Cincinnati Financial from a c+ rating to a b rating in a report on Tuesday, February 6th. Finally, Piper Sandler restated a neutral rating and issued a $116.00 price objective on shares of Cincinnati Financial in a report on Monday, April 1st. 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.com, the stock has an average rating of Hold and an average target price of $123.57.

Cincinnati Financial Stock Up 1.9 %

NASDAQ CINF opened at $117.52 on Tuesday. The business has a fifty day moving average price of $116.77 and a two-hundred day moving average price of $108.34. 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 has a fifty-two week low of $95.01 and a fifty-two week high of $124.35. The stock has a market capitalization of $18.41 billion, a PE ratio of 10.07, a PEG ratio of 2.41 and a beta of 0.63.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.33. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities 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 issued a dividend of $0.81 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Monday, March 18th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 27.76%.

Institutional Trading of Cincinnati Financial

Large investors have recently bought and sold shares of the business. Assetmark Inc. grew its holdings in Cincinnati Financial by 252.2% during the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 174 shares during the period. Criterion Capital Advisors LLC acquired a new stake in Cincinnati Financial during the 4th quarter worth about $27,000. Providence Capital Advisors LLC grew its stake in shares of Cincinnati Financial by 11,107.1% in the 1st quarter. Providence Capital Advisors LLC now owns 3,138 shares of the insurance provider’s stock valued at $28,000 after buying an additional 3,110 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $31,000. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $31,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.