Cincinnati Financial (NASDAQ:CINF) Hits New 52-Week High – Still a Buy?

08 Nov 2024, 13:21 by Tristan Rich · The Markets Daily

Cincinnati Financial Co. (NASDAQ:CINF – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $149.29 and last traded at $148.96, with a volume of 8516 shares trading hands. The stock had previously closed at $140.37.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CINF shares. Roth Mkm increased their target price on Cincinnati Financial from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $152.00 to $156.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Bank of America raised their price objective on Cincinnati Financial from $149.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler raised their price objective on Cincinnati Financial from $116.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.57.

Check Out Our Latest Research Report on Cincinnati Financial

Cincinnati Financial Stock Performance

The company has a 50-day moving average of $137.68 and a 200 day moving average of $126.62. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $23.00 billion, a PE ratio of 7.56, a PEG ratio of 2.62 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.04). Cincinnati Financial had a return on equity of 8.25% and a net margin of 25.26%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. Cincinnati Financial’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Co. will post 6.35 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Tuesday, September 17th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in shares of Cincinnati Financial by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 188,187 shares of the insurance provider’s stock worth $23,367,000 after buying an additional 7,709 shares during the last quarter. Vest Financial LLC raised its holdings in Cincinnati Financial by 14.0% during the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider’s stock valued at $44,726,000 after acquiring an additional 46,530 shares during the period. SG Americas Securities LLC grew its position in shares of Cincinnati Financial by 77.3% during the first quarter. SG Americas Securities LLC now owns 42,896 shares of the insurance provider’s stock valued at $5,326,000 after purchasing an additional 18,704 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Cincinnati Financial by 91.4% in the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider’s stock worth $14,016,000 after acquiring an additional 56,686 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Cincinnati Financial by 165.4% in the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider’s stock worth $968,000 after acquiring an additional 4,856 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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