Cincinnati Financial (NASDAQ:CINF) Price Target Increased to $126.00 by Analysts at Citigroup

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

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

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $119.95 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $116.99 and its 200 day simple moving average is $108.48. The stock has a market cap of $18.79 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.37 and a beta of 0.63. Cincinnati Financial has a twelve month low of $95.01 and a twelve month high of $124.35.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Wednesday, February 7th. The insurance provider reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Cincinnati Financial will post 6.2 EPS for the current year.

Cincinnati Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, March 18th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 2.70%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 27.76%.

Hedge Funds Weigh In On Cincinnati Financial

Hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Cincinnati Financial by 11.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 24,522 shares of the insurance provider’s stock valued at $2,508,000 after buying an additional 2,550 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Cincinnati Financial in the 4th quarter worth $21,036,000. abrdn plc raised its stake in shares of Cincinnati Financial by 18.9% in the third quarter. abrdn plc now owns 46,897 shares of the insurance provider’s stock worth $4,797,000 after purchasing an additional 7,450 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Cincinnati Financial by 163.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 63,647 shares of the insurance provider’s stock worth $6,510,000 after purchasing an additional 39,464 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Cincinnati Financial by 92.6% during the third quarter. The Manufacturers Life Insurance Company now owns 236,410 shares of the insurance provider’s stock valued at $24,182,000 after purchasing an additional 113,653 shares in the last quarter. Institutional investors 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.