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

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $152.00 to $156.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Bank of America raised 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, Piper Sandler boosted their price target on shares of Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Cincinnati Financial Stock Performance

The business’s fifty day moving average is $141.26 and its two-hundred day moving average is $129.58. The stock has a market capitalization of $24.74 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 2.99 and a beta of 0.65. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 earnings per share. As a group, research analysts anticipate 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. Shareholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $3.24 dividend on an annualized basis and a yield of 2.05%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Moisand Fitzgerald Tamayo LLC bought a new position in Cincinnati Financial during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of Cincinnati Financial during the third quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Cincinnati Financial during the third quarter valued at approximately $28,000. Rothschild Investment LLC purchased a new stake in shares of Cincinnati Financial in the second quarter worth approximately $29,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter worth approximately $29,000. Hedge funds and other 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.