Cincinnati Financial (NASDAQ:CINF) Sets New 12-Month High – Time to Buy?

Shares of Cincinnati Financial Corporation (NASDAQ:CINF) hit a new 52-week high during trading on Monday . The company traded as high as $174.70 and last traded at $174.5170, with a volume of 68035 shares traded. The stock had previously closed at $170.20.

Wall Street Analysts Forecast Growth

CINF has been the subject of several research analyst reports. Piper Sandler lifted their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Bank of America decreased their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods increased their price target on 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 downgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 11th. Finally, Roth Mkm upped their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.25.

Cincinnati Financial Stock Up 1.9%

The business has a 50 day moving average of $165.23 and a two-hundred day moving average of $163.73. The stock has a market capitalization of $27.20 billion, a PE ratio of 10.05, a PEG ratio of 3.74 and a beta of 0.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio is currently 21.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CINF. Triton Financial Group Inc raised its stake in Cincinnati Financial by 0.7% during the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock worth $1,718,000 after acquiring an additional 73 shares during the period. HUB Investment Partners LLC boosted its stake in Cincinnati Financial by 3.9% in the second quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock valued at $303,000 after acquiring an additional 77 shares during the period. Essex Financial Services Inc. grew its holdings in shares of Cincinnati Financial by 3.5% during the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 77 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Cincinnati Financial by 1.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 77 shares during the period. Finally, William B. Walkup & Associates Inc. lifted its holdings in shares of Cincinnati Financial by 2.9% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 82 shares during the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

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.