Cincinnati Financial (NASDAQ:CINF) Sets New 52-Week High – Time to Buy?

Cincinnati Financial Co. (NASDAQ:CINF)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $149.29 and last traded at $148.96, with a volume of 8516 shares. The stock had previously closed at $140.37.

Analyst Upgrades and Downgrades

CINF has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Bank of America raised their price target on Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Roth Mkm upped their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.57.

Cincinnati Financial Price Performance

The company has a fifty day moving average price of $137.38 and a two-hundred day moving average price of $126.46. The firm has a market capitalization of $23.43 billion, a PE ratio of 7.21, a P/E/G ratio of 2.65 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 quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. Cincinnati Financial’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. Sell-side analysts forecast that Cincinnati Financial Co. will post 6.4 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th were paid a $0.81 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.16%. Cincinnati Financial’s dividend payout ratio is presently 16.65%.

Institutional Trading of Cincinnati Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CINF. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Cincinnati Financial in the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC purchased a new position in Cincinnati Financial in the 3rd quarter valued at $27,000. Rothschild Investment LLC acquired a new position in Cincinnati Financial in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial during the 3rd quarter worth $29,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Cincinnati Financial by 49.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 80 shares during the period. 65.24% of the stock is owned by hedge funds and other 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.