Cincinnati Financial (NASDAQ:CINF) Hits New 1-Year High – Still a Buy?

Cincinnati Financial Co. (NASDAQ:CINF) hit a new 52-week high on Monday . The company traded as high as $157.40 and last traded at $157.40, with a volume of 551 shares changing hands. The stock had previously closed at $156.47.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CINF shares. Bank of America lifted their target price on shares of Cincinnati Financial from $149.00 to $168.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price target on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

Cincinnati Financial Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $24.95 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.99 and a beta of 0.65. The firm’s fifty day moving average is $142.18 and its two-hundred day moving average is $130.16.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.04). The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 EPS. As a group, analysts anticipate that Cincinnati Financial Co. will post 6.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, December 19th. Cincinnati Financial’s payout ratio is currently 16.65%.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Moisand Fitzgerald Tamayo LLC purchased a new stake in Cincinnati Financial in the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of Cincinnati Financial in the third quarter worth about $27,000. Legacy Investment Solutions LLC purchased a new stake in shares of Cincinnati Financial in the third quarter worth about $28,000. Rothschild Investment LLC bought a new position in Cincinnati Financial during the second quarter valued at approximately $29,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Cincinnati Financial during the 3rd quarter valued at approximately $29,000. 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.