Cincinnati Financial (NASDAQ:CINF) Hits New 12-Month High – Should You Buy?

Cincinnati Financial Corporation (NASDAQ:CINF) reached a new 52-week high during trading on Thursday. The company traded as high as $195.03 and last traded at $195.2850, with a volume of 25,915 shares trading hands. The stock had previously closed at $184.34.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CINF. Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their target price on shares of Cincinnati Financial from $190.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Finally, Roth Capital boosted their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $191.60.

Cincinnati Financial Price Performance

The stock has a market capitalization of $29.96 billion, a P/E ratio of 11.42, a PEG ratio of 2.91 and a beta of 0.48. The business has a fifty day simple moving average of $170.28 and a 200-day simple moving average of $168.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.27 and a current ratio of 0.27.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings results on Monday, October 26th. The insurance provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.81. Cincinnati Financial had a return on equity of 9.48% and a net margin of 20.07%. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company earned $2.85 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts expect that Cincinnati Financial Corporation will post 9.26 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, September 23rd. Cincinnati Financial’s payout ratio is presently 22.05%.

Insider Transactions at Cincinnati Financial

In other Cincinnati Financial news, Director Dirk Debbink purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average cost of $171.64 per share, for a total transaction of $171,640.00. Following the purchase, the director owned 62,059 shares of the company’s stock, valued at $10,651,806.76. This represents a 1.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.94% of the company’s stock.

Institutional Trading of Cincinnati Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC boosted its stake in shares of Cincinnati Financial by 11.0% in the 3rd quarter. Lido Advisors LLC now owns 9,341 shares of the insurance provider’s stock valued at $1,489,000 after purchasing an additional 926 shares in the last quarter. Narwhal Capital Management lifted its position in Cincinnati Financial by 0.5% in the 3rd quarter. Narwhal Capital Management now owns 50,018 shares of the insurance provider’s stock valued at $7,971,000 after acquiring an additional 268 shares in the last quarter. AlphaCore Capital LLC grew its position in Cincinnati Financial by 58.0% in the 3rd quarter. AlphaCore Capital LLC now owns 3,869 shares of the insurance provider’s stock worth $618,000 after purchasing an additional 1,421 shares during the period. Fulcrum Asset Management LLP grew its position in Cincinnati Financial by 4,704.8% during the third quarter. Fulcrum Asset Management LLP now owns 2,018 shares of the insurance provider’s stock valued at $325,000 after buying an additional 1,976 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Cincinnati Financial by 6.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,717 shares of the insurance provider’s stock worth $1,089,000 after buying an additional 409 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

About Cincinnati Financial

Cincinnati Financial Corporation is an insurance holding company headquartered in Fairfield, Ohio. Founded in 1950 by four independent insurance agents, the company markets its products primarily through a network of independent agencies.

The company’s principal business is property and casualty insurance. Its offerings include commercial insurance for businesses, personal insurance for individuals and families, and specialty coverage for risks that may require more customized underwriting.