Cincinnati Financial (NASDAQ:CINF) Reaches New 12-Month High – Time to Buy?

Cincinnati Financial Co. (NASDAQ:CINF)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $157.40 and last traded at $157.40, with a volume of 551 shares traded. The stock had previously closed at $156.47.

Wall Street Analyst Weigh In

Several analysts have issued reports on CINF shares. Piper Sandler upped their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Bank of America lifted their price target on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Performance

The business has a fifty day moving average of $142.18 and a 200-day moving average of $130.16. The company has a market cap of $24.95 billion, a PE ratio of 8.20, a P/E/G ratio of 2.99 and a beta of 0.65. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm posted $1.66 earnings per share. Cincinnati Financial’s quarterly revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s payout ratio is 16.65%.

Hedge Funds Weigh In On Cincinnati Financial

Institutional investors have recently bought and sold shares of the stock. Vest Financial LLC grew its holdings in shares of Cincinnati Financial by 14.0% during the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock worth $44,726,000 after acquiring an additional 46,530 shares during the period. Assenagon Asset Management S.A. grew its stake in Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after purchasing an additional 56,686 shares during the period. Advisors Asset Management Inc. raised its holdings in Cincinnati Financial by 165.4% in the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock worth $968,000 after purchasing an additional 4,856 shares in the last quarter. Amalgamated Bank raised its holdings in Cincinnati Financial by 30.5% in the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock worth $4,976,000 after purchasing an additional 9,854 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Cincinnati Financial by 10.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock valued at $15,923,000 after buying an additional 11,282 shares during the period. 65.24% of the stock is owned by institutional investors.

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.