Cincinnati Financial (NASDAQ:CINF) Sets New 1-Year High – Should You Buy?

Cincinnati Financial Corporation (NASDAQ:CINF) shares reached a new 52-week high during trading on Monday . The company traded as high as $192.09 and last traded at $190.9590, with a volume of 780304 shares changing hands. The stock had previously closed at $192.03.

Analysts Set New Price Targets

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

Cincinnati Financial Stock Up 2.4%

The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $168.51 and its 200 day simple moving average is $164.96. The firm has a market capitalization of $29.65 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 4.15 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share 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 firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business earned ($0.24) EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts anticipate that Cincinnati Financial Corporation will post 8.66 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors have recently added to or reduced their stakes in CINF. Norges Bank purchased a new stake in shares of Cincinnati Financial in the 4th quarter worth about $270,892,000. First Trust Advisors LP increased its stake in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after acquiring an additional 784,584 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Cincinnati Financial by 193.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after acquiring an additional 396,086 shares during the period. Raymond James Financial Inc. lifted its position in Cincinnati Financial by 48.6% during the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares during the period. Finally, Korea Investment CORP boosted its stake in Cincinnati Financial by 210.0% during the third quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock worth $46,548,000 after acquiring an additional 199,437 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.