Cincinnati Financial Corp. (CINF) Reaches New 52-Week High at $77.41
Cincinnati Financial Corp. (NASDAQ:CINF) shares reached a new 52-week high on Monday . The company traded as high as $77.41 and last traded at $77.41, with a volume of 196,727 shares trading hands. The stock had previously closed at $76.20.
A number of research analysts have weighed in on CINF shares. MKM Partners raised their price target on Cincinnati Financial Corp. from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Zacks Investment Research upgraded Cincinnati Financial Corp. from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Wednesday, July 20th.
The firm has a market capitalization of $12.73 billion and a P/E ratio of 20.04. The company has a 50-day moving average of $75.65 and a 200 day moving average of $69.27.
Cincinnati Financial Corp. (NASDAQ:CINF) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. The business earned $1.37 billion during the quarter, compared to analyst estimates of $1.32 billion. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 earnings per share. Analysts anticipate that Cincinnati Financial Corp. will post $3.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Wednesday, September 21st will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Monday, September 19th.
Several hedge funds and institutional investors have made changes to their positions in the stock. Utah Retirement Systems increased its position in shares of Cincinnati Financial Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 29,469 shares of the company’s stock worth $1,744,000 after buying an additional 100 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Cincinnati Financial Corp. by 30.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 63,089 shares of the company’s stock worth $3,733,000 after buying an additional 14,756 shares during the period. Wells Fargo & Company MN increased its position in Cincinnati Financial Corp. by 5.1% in the fourth quarter. Wells Fargo & Company MN now owns 188,596 shares of the company’s stock worth $11,159,000 after buying an additional 9,141 shares during the period. Principal Financial Group Inc. increased its position in Cincinnati Financial Corp. by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 230,124 shares of the company’s stock worth $13,616,000 after buying an additional 3,937 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Cincinnati Financial Corp. by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 902,922 shares of the company’s stock worth $53,434,000 after buying an additional 23,403 shares during the period.
Cincinnati Financial Corporation is an insurance holding company. The Company is engaged in the business of property casualty insurance marketed through independent insurance agencies in 39 states. The Company operates through five segments: Commercial lines, Personal lines, Excess and surplus lines, Life insurance and Investments.
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