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

by · The Cerbat Gem

Cincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $168.86 and last traded at $168.9150, with a volume of 17707 shares. The stock had previously closed at $166.71.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CINF. Roth Capital reissued a “buy” rating and set a $175.00 price target on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Cincinnati Financial from $177.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $171.67.

View Our Latest Report on Cincinnati Financial

Cincinnati Financial Stock Up 0.1%

The company has a quick ratio of 0.29, a current ratio of 0.30 and a debt-to-equity ratio of 0.06. The company has a market cap of $26.29 billion, a PE ratio of 12.54, a PEG ratio of 4.27 and a beta of 0.69. The company’s fifty day moving average is $159.48 and its 200-day moving average is $153.24.

Cincinnati Financial (NASDAQ:CINF – Get Free Report) last announced its earnings results on Monday, October 27th. The insurance provider reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.84. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $2.87 billion. Cincinnati Financial had a net margin of 17.57% and a return on equity of 8.51%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. On average, analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 22nd will be issued a $0.87 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial’s dividend payout ratio is currently 25.89%.

Insider Transactions at Cincinnati Financial

In other news, Director Dirk J. Debbink purchased 1,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $153.98 per share, for a total transaction of $153,980.00. Following the purchase, the director directly owned 58,482 shares in the company, valued at $9,005,058.36. This trade represents a 1.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On Cincinnati Financial

A number of institutional investors and hedge funds have recently made changes to their positions in CINF. Vanguard Group Inc. increased its holdings in Cincinnati Financial by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after buying an additional 317,033 shares during the last quarter. State Street Corp grew its position in shares of 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 acquiring an additional 26,475 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cincinnati Financial by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock worth $963,594,000 after purchasing an additional 106,266 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Cincinnati Financial by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after purchasing an additional 80,487 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Cincinnati Financial by 2.2% in the 1st quarter. Invesco Ltd. now owns 1,848,509 shares of the insurance provider’s stock worth $273,062,000 after purchasing an additional 40,222 shares during the period. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

(Get Free Report)

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.

Further Reading