Cincinnati Financial (NASDAQ:CINF) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Cincinnati Financial Co. (NASDAQ:CINF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $136.22 and traded as high as $144.18. Cincinnati Financial shares last traded at $143.70, with a volume of 329,498 shares trading hands.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent research reports. Piper Sandler raised their target price on Cincinnati Financial from $116.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Bank of America upped their price objective on shares of Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.33.

Cincinnati Financial Stock Down 0.3 %

The company has a market capitalization of $22.21 billion, a P/E ratio of 7.30, a P/E/G ratio of 2.89 and a beta of 0.69. The business’s fifty day moving average price is $149.30 and its 200 day moving average price is $136.26. 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 announced its earnings results 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). The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.66 EPS. As a group, equities research analysts predict that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.28%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Insider Activity at Cincinnati Financial

In other news, Director Dirk J. Debbink acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $157.19 per share, for a total transaction of $157,190.00. Following the transaction, the director now owns 54,500 shares of the company’s stock, valued at approximately $8,566,855. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cincinnati Financial

Several hedge funds have recently added to or reduced their stakes in CINF. Charles Schwab Investment Management Inc. boosted its position in shares of Cincinnati Financial by 26.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock worth $787,076,000 after purchasing an additional 1,218,919 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cincinnati Financial by 583.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after acquiring an additional 329,435 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Cincinnati Financial by 39.4% in the 2nd quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cincinnati Financial by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after acquiring an additional 187,934 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cincinnati Financial by 49.5% during the third quarter. JPMorgan Chase & Co. now owns 445,337 shares of the insurance provider’s stock valued at $60,619,000 after purchasing an additional 147,542 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.