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

Cincinnati Financial (NASDAQ:CINF) had its target price increased by equities research analysts at Citigroup from $120.00 to $126.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Citigroup’s price objective would indicate a potential upside of 9.28% from the company’s current price.

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

Cincinnati Financial Stock Down 1.5 %

NASDAQ CINF opened at $115.30 on Tuesday. Cincinnati Financial has a 1-year low of $95.01 and a 1-year high of $124.35. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 2.40 and a beta of 0.63. The stock’s 50 day moving average is $116.58 and its two-hundred day moving average is $108.28. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly 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. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Equities analysts forecast that Cincinnati Financial will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in Cincinnati Financial in the fourth quarter worth about $179,305,000. Los Angeles Capital Management LLC raised its stake in shares of Cincinnati Financial by 554.7% during the third quarter. Los Angeles Capital Management LLC now owns 1,109,299 shares of the insurance provider’s stock worth $113,470,000 after buying an additional 939,861 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Cincinnati Financial by 294.9% in the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock valued at $60,350,000 after buying an additional 440,158 shares during the period. State Street Corp boosted its stake in Cincinnati Financial by 4.1% in the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock valued at $1,246,056,000 after acquiring an additional 360,552 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Cincinnati Financial by 1,870.3% during the 3rd quarter. AQR Capital Management LLC now owns 274,030 shares of the insurance provider’s stock worth $28,031,000 after acquiring an additional 260,122 shares during the period. 65.24% of the stock is 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.