Cincinnati Financial (NASDAQ:CINF) Sets New 52-Week High – Should You Buy?

Cincinnati Financial Co. (NASDAQ:CINF) hit a new 52-week high during trading on Monday . The company traded as high as $143.15 and last traded at $143.15, with a volume of 2180 shares traded. The stock had previously closed at $141.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America raised their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler raised their price objective on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday. Roth Mkm raised their price objective on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Down 1.7 %

The business’s 50 day moving average is $136.55 and its 200-day moving average is $125.64. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 2.62 and a beta of 0.66. 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 (NASDAQ:CINF) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business posted $1.66 EPS. Cincinnati Financial’s revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were issued a $0.81 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.28%. Cincinnati Financial’s payout ratio is currently 21.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CINF. Wellington Management Group LLP lifted its holdings in Cincinnati Financial by 5.1% in the 4th quarter. Wellington Management Group LLP now owns 17,486 shares of the insurance provider’s stock valued at $1,809,000 after purchasing an additional 853 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Cincinnati Financial by 117.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,558 shares of the insurance provider’s stock valued at $566,000 after purchasing an additional 2,461 shares in the last quarter. Norden Group LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at $354,000. First Trust Direct Indexing L.P. lifted its holdings in Cincinnati Financial by 16.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,305 shares of the insurance provider’s stock valued at $286,000 after purchasing an additional 331 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new position in Cincinnati Financial in the 1st quarter valued at $223,000. 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.