Cincinnati Financial (NASDAQ:CINF) Sets New 12-Month High – Still a Buy?

Cincinnati Financial Corporation (NASDAQ:CINF)’s share price reached a new 52-week high during mid-day trading on Monday . The company 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 Upgrades and Downgrades

CINF has been the topic of several analyst reports. Roth Capital raised their price target 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. 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. Keefe, Bruyette & Woods increased 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. Weiss Ratings raised Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Finally, Piper Sandler boosted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cincinnati Financial has a consensus rating of “Buy” and a consensus target price of $183.25.

Cincinnati Financial Trading Down 0.3%

The business’s 50 day moving average price is $169.43 and its two-hundred day moving average price is $165.29. 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 company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 4.09 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 21.33% and a return on equity of 10.57%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.24) earnings per share. Equities analysts forecast that Cincinnati Financial Corporation will post 8.66 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 2.0%. Cincinnati Financial’s dividend payout ratio (DPR) is 21.50%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Triton Financial Group Inc raised its position in Cincinnati Financial by 0.7% in the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock worth $1,718,000 after acquiring an additional 73 shares in the last quarter. Essex Financial Services Inc. boosted its position in shares of Cincinnati Financial by 3.5% during the 4th quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock valued at $374,000 after purchasing an additional 77 shares in the last quarter. HUB Investment Partners LLC grew its stake in shares of Cincinnati Financial by 3.9% in the 2nd quarter. HUB Investment Partners LLC now owns 2,036 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 77 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Cincinnati Financial by 1.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,363 shares of the insurance provider’s stock worth $669,000 after purchasing an additional 77 shares in the last quarter. Finally, William B. Walkup & Associates Inc. raised its holdings in shares of Cincinnati Financial by 2.9% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock worth $428,000 after purchasing an additional 82 shares in the last quarter. Institutional investors 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.