Cincinnati Financial (NASDAQ:CINF) Hits New 52-Week High – Here’s What Happened

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) reached a new 52-week high during trading on Monday . The company traded as high as $185.20 and last traded at $182.97, with a volume of 1526171 shares traded. The stock had previously closed at $184.08.

Analyst Ratings Changes

A number of brokerages have recently commented on CINF. Bank of America dropped their price objective on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler raised their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Finally, Roth Mkm upped their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $183.25.

Cincinnati Financial Trading Up 0.3%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The company’s 50 day simple moving average is $166.23 and its two-hundred day simple moving average is $164.11. The company has a market cap of $28.55 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 4.00 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the company posted ($0.24) earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Cincinnati Financial during the third quarter worth approximately $1,503,000. Barclays PLC increased its stake in Cincinnati Financial by 18.6% in the third quarter. Barclays PLC now owns 594,042 shares of the insurance provider’s stock valued at $93,918,000 after purchasing an additional 93,254 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in Cincinnati Financial by 240.3% during the third quarter. Swiss Life Asset Management Ltd now owns 35,106 shares of the insurance provider’s stock worth $5,550,000 after buying an additional 24,790 shares during the period. Geode Capital Management LLC increased its stake in shares of Cincinnati Financial by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after acquiring an additional 25,888 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cincinnati Financial by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,471,628 shares of the insurance provider’s stock worth $232,643,000 after acquiring an additional 46,426 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.