Cincinnati Financial (NASDAQ:CINF) Hits New 1-Year High – What’s Next?

Cincinnati Financial Corporation (NASDAQ:CINF) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $171.45 and last traded at $170.2410, with a volume of 67765 shares traded. The stock had previously closed at $168.95.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Piper Sandler lifted their price objective on Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Roth Mkm reaffirmed a “buy” rating and issued a $175.00 price target on shares of Cincinnati Financial in a report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Stock Up 1.2%

The business’s fifty day simple moving average is $163.42 and its 200 day simple moving average is $158.66. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 3.71 and a beta of 0.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.06.

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a yield of 2.2%. Cincinnati Financial’s payout ratio is currently 25.89%.

Institutional Trading of Cincinnati Financial

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Cincinnati Financial during the second quarter valued at approximately $235,714,000. Vanguard Group Inc. raised its holdings in Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock worth $2,914,738,000 after purchasing an additional 317,033 shares during the period. Raymond James Financial Inc. boosted its position in shares of Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after purchasing an additional 262,715 shares in the last quarter. Amundi boosted its position in shares of Cincinnati Financial by 113.6% during the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after purchasing an additional 242,020 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after buying an additional 199,437 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.