Cincinnati Financial (NASDAQ:CINF) Sets New 1-Year High – Should You Buy?

Cincinnati Financial Corporation (NASDAQ:CINF)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $192.09 and last traded at $190.9590, with a volume of 780304 shares changing hands. The stock had previously closed at $192.03.

Analyst Ratings Changes

A number of analysts recently weighed in on CINF shares. Piper Sandler boosted their target price on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Bank of America decreased their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Roth Mkm upped their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Performance

The company has a market cap of $29.65 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 4.15 and a beta of 0.54. The business has a 50 day moving average price of $168.51 and a two-hundred day moving average price of $164.96. 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 quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.17. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.Cincinnati Financial’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned ($0.24) EPS. On average, sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.66 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be issued a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.0%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Institutional Investors Weigh In On Cincinnati Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter valued at about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cincinnati Financial by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,112 shares of the insurance provider’s stock valued at $2,823,000 after acquiring an additional 525 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after purchasing an additional 173,343 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Cincinnati Financial during the second quarter worth about $101,000. Finally, Cerity Partners LLC grew its stake in shares of Cincinnati Financial by 10.8% in the second quarter. Cerity Partners LLC now owns 47,774 shares of the insurance provider’s stock worth $7,115,000 after purchasing an additional 4,674 shares during the last quarter. 65.24% of the stock is currently owned by 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.