Cincinnati Financial (NASDAQ:CINF) Reaches New 1-Year High – Time to Buy?

Shares of Cincinnati Financial Co. (NASDAQ:CINF) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $149.29 and last traded at $148.96, with a volume of 8516 shares trading hands. The stock had previously closed at $140.37.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Roth Mkm increased their target price on shares of Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Bank of America lifted their price target on 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 increased their price target on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

The stock has a market cap of $23.43 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. The stock’s fifty day moving average is $137.38 and its 200-day moving average is $126.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last released 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 analyst estimates of $2.24 billion. Cincinnati Financial had a net margin of 25.26% and a return on equity of 8.25%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, equities analysts anticipate that Cincinnati Financial Co. will post 6.4 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.16%. Cincinnati Financial’s payout ratio is currently 16.65%.

Institutional Investors Weigh In On Cincinnati Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Moisand Fitzgerald Tamayo LLC purchased a new stake in Cincinnati Financial during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Cincinnati Financial during the third quarter worth $27,000. Rothschild Investment LLC acquired a new stake in shares of Cincinnati Financial in the second quarter valued at $29,000. Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial in the third quarter valued at $29,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Cincinnati Financial by 49.4% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

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.