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

Shares of Cincinnati Financial Co. (NASDAQ:CINF) reached a new 52-week high on Monday . The stock traded as high as $157.40 and last traded at $157.40, with a volume of 551 shares. The stock had previously closed at $156.47.

Analyst Upgrades and Downgrades

CINF has been the topic of a number of research analyst reports. Piper Sandler upped their price target on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Bank of America upped their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Cincinnati Financial Trading Up 1.2 %

The firm has a market capitalization of $24.74 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.99 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. The stock has a 50 day simple moving average of $141.26 and a 200-day simple moving average of $129.58.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the business posted $1.66 EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts forecast that Cincinnati Financial Co. will post 6.31 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 annualized dividend and a dividend yield of 2.05%. Cincinnati Financial’s dividend payout ratio (DPR) is 16.65%.

Hedge Funds Weigh In On Cincinnati Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vest Financial LLC lifted its position in shares of Cincinnati Financial by 14.0% during the 2nd quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock valued at $44,726,000 after buying an additional 46,530 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after purchasing an additional 56,686 shares during the period. Advisors Asset Management Inc. raised its position in shares of Cincinnati Financial by 165.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock valued at $968,000 after purchasing an additional 4,856 shares during the period. Amalgamated Bank lifted its stake in shares of Cincinnati Financial by 30.5% during the 2nd quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider’s stock valued at $4,976,000 after buying an additional 9,854 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cincinnati Financial by 10.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider’s stock worth $15,923,000 after buying an additional 11,282 shares during the period. 65.24% of the stock is currently 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.