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

Cincinnati Financial Corporation (NASDAQ:CINF) reached a new 52-week high on Friday . The stock traded as high as $162.65 and last traded at $163.00, with a volume of 22481 shares changing hands. The stock had previously closed at $160.51.

Wall Street Analyst Weigh In

CINF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cincinnati Financial in a report on Saturday, September 27th. Finally, Roth Capital increased their price objective on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $159.40.

Cincinnati Financial Stock Performance

The stock has a market capitalization of $25.54 billion, a PE ratio of 14.16, a P/E/G ratio of 7.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a fifty day moving average price of $153.62 and a two-hundred day moving average price of $147.45.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 28th. The insurance provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. Research analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 30.18%.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Cincinnati Financial in the second quarter valued at about $25,000. Spire Wealth Management raised its holdings in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 76 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cincinnati Financial in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new position in shares of Cincinnati Financial during the first quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Cincinnati Financial during the first quarter valued at approximately $32,000. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.