Cincinnati Financial Corporation (NASDAQ:CINF – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $174.70 and last traded at $174.5170, with a volume of 68035 shares traded. The stock had previously closed at $170.20.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Weiss Ratings downgraded Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. Bank of America reduced their price target on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Piper Sandler boosted their price target on Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised their price objective on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Roth Mkm boosted their target price on shares of Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $183.25.
Get Our Latest Stock Report on CINF
Cincinnati Financial Price Performance
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the business earned ($0.24) earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts predict that Cincinnati Financial Corporation will post 8.61 earnings per share for the current fiscal year.
Cincinnati Financial Announces Dividend
The company also recently announced 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. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Cincinnati Financial by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 19,725,564 shares of the insurance provider’s stock worth $3,221,579,000 after purchasing an additional 123,110 shares during the period. State Street Corp boosted its stake in Cincinnati Financial by 0.3% during the 3rd quarter. State Street Corp now owns 8,542,265 shares of the insurance provider’s stock valued at $1,357,825,000 after purchasing an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cincinnati Financial by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,632,071 shares of the insurance provider’s stock worth $1,083,151,000 after acquiring an additional 97,761 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cincinnati Financial by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock worth $671,265,000 after acquiring an additional 25,888 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after acquiring an additional 784,584 shares during the period. Institutional investors and hedge funds own 65.24% of the company’s stock.
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.
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