Cincinnati Financial (NASDAQ:CINF) Sets New 12-Month High at $121.61

Cincinnati Financial Co. (NASDAQ:CINF)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $121.61 and last traded at $121.02, with a volume of 88513 shares. The stock had previously closed at $120.76.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CINF shares. Janney Montgomery Scott initiated coverage on Cincinnati Financial in a research note on Thursday, December 14th. They issued a “neutral” rating and a $110.00 target price for the company. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $125.00 to $135.00 in a research report on Monday. Finally, TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a research report on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.71.

Cincinnati Financial Stock Up 2.5 %

The stock has a market cap of $19.31 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.30 and a beta of 0.62. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $113.54 and its 200-day moving average is $106.72.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Wednesday, February 7th. The insurance provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.33. Cincinnati Financial had a net margin of 18.41% and a return on equity of 8.56%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $1.27 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts anticipate that Cincinnati Financial Co. will post 6.18 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, March 19th will be issued a $0.81 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, March 18th. This represents a $3.24 annualized dividend and a dividend yield of 2.63%. Cincinnati Financial’s dividend payout ratio is 27.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CINF. Vanguard Group Inc. boosted its holdings in Cincinnati Financial by 1.2% during the first quarter. Vanguard Group Inc. now owns 18,044,861 shares of the insurance provider’s stock worth $2,453,379,000 after buying an additional 211,402 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Cincinnati Financial by 0.9% during the 2nd quarter. BlackRock Inc. now owns 12,024,975 shares of the insurance provider’s stock worth $1,170,271,000 after acquiring an additional 111,506 shares in the last quarter. State Street Corp grew its holdings in shares of Cincinnati Financial by 4.1% in the 1st quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after acquiring an additional 360,552 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Cincinnati Financial by 2.1% during the first quarter. Geode Capital Management LLC now owns 3,343,865 shares of the insurance provider’s stock worth $373,978,000 after purchasing an additional 67,706 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Cincinnati Financial by 1.4% during the first quarter. Bank of America Corp DE now owns 3,037,811 shares of the insurance provider’s stock valued at $340,478,000 after purchasing an additional 42,128 shares during the last quarter. 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.