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

Cincinnati Financial Corporation (NASDAQ:CINF) shares hit a new 52-week high on Monday . The stock traded as high as $185.20 and last traded at $182.97, with a volume of 1526171 shares. The stock had previously closed at $184.08.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Bank of America lowered their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Roth Mkm upped their price target on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler increased their price target on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. One investment 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’s stock. Based on data from MarketBeat, Cincinnati Financial has an average rating of “Buy” and an average price target of $183.25.

Cincinnati Financial Stock Down 0.5%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s 50-day simple moving average is $167.05 and its two-hundred day simple moving average is $164.44. The company has a market capitalization of $28.64 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 4.04 and a beta of 0.57.

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, beating analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned ($0.24) EPS. Sell-side analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

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

Institutional Trading of Cincinnati Financial

A number of institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of Cincinnati Financial by 2.5% during the 1st quarter. NewEdge Advisors LLC now owns 18,676 shares of the insurance provider’s stock worth $2,939,000 after buying an additional 447 shares during the last quarter. Groupama Asset Managment purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth about $315,000. BankChampaign National Association acquired a new stake in Cincinnati Financial in the 1st quarter valued at about $293,000. Kentucky Retirement Systems increased its holdings in Cincinnati Financial by 25.9% during the 1st quarter. Kentucky Retirement Systems now owns 12,174 shares of the insurance provider’s stock valued at $1,916,000 after acquiring an additional 2,503 shares in the last quarter. Finally, Bull Harbor Capital LLC purchased a new position in Cincinnati Financial during the 1st quarter valued at about $352,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

About Cincinnati Financial

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.