Cincinnati Financial (NASDAQ:CINF) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CINF shares. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Roth Mkm lifted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings lowered Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. Bank of America reduced their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.25.

Cincinnati Financial Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50 day moving average price of $164.76 and a two-hundred day moving average price of $163.58. The company has a market capitalization of $26.76 billion, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 3.70 and a beta of 0.57.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 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 business 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) EPS. Cincinnati Financial’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

Institutional Trading of Cincinnati Financial

Several hedge funds have recently modified their holdings of the company. Lodestone Wealth Management LLC bought a new position in shares of Cincinnati Financial in the fourth quarter valued at approximately $25,000. Motiv8 Investments LLC bought a new stake in Cincinnati Financial during the 4th quarter worth approximately $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial during the 1st quarter valued at $34,000. DV Equities LLC bought a new position in Cincinnati Financial in the 4th quarter valued at $36,000. Finally, Legacy Wealth Managment LLC ID boosted its stake in Cincinnati Financial by 78.8% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.