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

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

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

Cincinnati Financial Stock Up 0.2 %

NASDAQ:CINF opened at $117.07 on Tuesday. The firm has a market cap of $18.34 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.44 and a beta of 0.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.27 and a current 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 firm has a 50-day simple moving average of $116.41 and a two-hundred day simple moving average of $108.23.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data 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. 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%. Cincinnati Financial’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. Analysts predict that Cincinnati Financial will post 6.2 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, March 19th were issued a $0.81 dividend. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, March 18th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.77%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 27.76%.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. United Capital Financial Advisers LLC boosted its holdings in shares of Cincinnati Financial by 0.9% in the first quarter. United Capital Financial Advisers LLC now owns 9,645 shares of the insurance provider’s stock worth $1,311,000 after buying an additional 87 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Cincinnati Financial by 1.6% in the fourth quarter. Savant Capital LLC now owns 6,041 shares of the insurance provider’s stock worth $625,000 after buying an additional 96 shares during the last quarter. Octavia Wealth Advisors LLC lifted its holdings in Cincinnati Financial by 0.9% during the third quarter. Octavia Wealth Advisors LLC now owns 11,258 shares of the insurance provider’s stock valued at $1,160,000 after purchasing an additional 101 shares in the last quarter. Pinion Investment Advisors LLC boosted its position in shares of Cincinnati Financial by 2.9% in the fourth quarter. Pinion Investment Advisors LLC now owns 3,613 shares of the insurance provider’s stock worth $374,000 after purchasing an additional 101 shares during the period. Finally, Belpointe Asset Management LLC boosted its position in shares of Cincinnati Financial by 3.0% in the third quarter. Belpointe Asset Management LLC now owns 3,568 shares of the insurance provider’s stock worth $365,000 after purchasing an additional 103 shares during the period. Hedge funds and other 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.