Cincinnati Financial (NASDAQ:CINF) Hits New 12-Month High at $135.20

Cincinnati Financial Co. (NASDAQ:CINF) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $135.20 and last traded at $135.10, with a volume of 38565 shares trading hands. The stock had previously closed at $134.82.

Analyst Ratings Changes

CINF has been the topic of a number of analyst reports. Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $126.00 to $135.00 in a report on Friday, June 28th. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm raised their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Bank of America reduced their price target on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The business has a fifty day moving average of $124.24 and a 200-day moving average of $119.39. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 2.84 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.33. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that Cincinnati Financial Co. will post 6.46 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.40%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds have recently modified their holdings of CINF. Assetmark Inc. boosted its position in shares of Cincinnati Financial by 252.2% in the 4th quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in Cincinnati Financial during the second quarter valued at about $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Cincinnati Financial in the fourth quarter worth about $31,000. Future Financial Wealth Managment LLC purchased a new position in shares of Cincinnati Financial in the first quarter worth approximately $47,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $49,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

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.