Cincinnati Financial (NASDAQ:CINF) Rating Increased to Buy at Citigroup

Cincinnati Financial (NASDAQ:CINF) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has a $135.00 price objective on the insurance provider’s stock, up from their previous price objective of $126.00. Citigroup’s target price suggests a potential upside of 14.31% from the stock’s previous close.

CINF has been the subject of several other research reports. Piper Sandler restated a “neutral” rating and set a $116.00 price target on shares of Cincinnati Financial in a report on Monday, April 1st. Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $136.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets upgraded shares of Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $125.00 to $135.00 in a research note on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.80.

Cincinnati Financial Stock Up 1.2 %

Shares of NASDAQ CINF opened at $118.10 on Friday. The stock has a 50-day moving average price of $116.47 and a two-hundred day moving average price of $113.87. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 2.51 and a beta of 0.65. Cincinnati Financial has a 12 month low of $95.40 and a 12 month high of $124.35. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a return on equity of 9.34% and a net margin of 22.16%. The business had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, analysts forecast that Cincinnati Financial will post 6.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dirk J. Debbink acquired 1,000 shares of Cincinnati Financial stock in a transaction on Monday, April 29th. The stock was acquired at an average cost of $113.47 per share, with a total value of $113,470.00. Following the completion of the acquisition, the director now owns 53,988 shares in the company, valued at $6,126,018.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Cincinnati Financial

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in shares of Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Cincinnati Financial during the 4th quarter valued at $27,000. BKM Wealth Management LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter worth about $31,000. Raleigh Capital Management Inc. bought a new stake in Cincinnati Financial in the fourth quarter valued at approximately $31,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Cincinnati Financial during the 1st quarter valued at $47,000. 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.