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

Cincinnati Financial Corporation (NASDAQ:CINF) hit a new 52-week high on Monday . The stock traded as high as $185.20 and last traded at $182.97, with a volume of 1526171 shares traded. The stock had previously closed at $184.08.

Wall Street Analysts Forecast Growth

CINF has been the subject of several recent analyst reports. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Keefe, Bruyette & Woods increased their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Roth Mkm boosted their price objective on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Bank of America dropped their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $183.25.

Cincinnati Financial Stock Performance

The firm has a 50 day moving average of $166.23 and a two-hundred day moving average of $164.11. The stock has a market cap of $28.55 billion, a P/E ratio of 10.54, a P/E/G ratio of 4.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating the consensus estimate of $1.93 by $0.17. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.24) EPS. On average, research analysts predict that Cincinnati Financial Corporation will post 8.61 EPS for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.

Institutional Trading of Cincinnati Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Cincinnati Financial by 2.5% during the 1st quarter. NewEdge Advisors LLC now owns 18,676 shares of the insurance provider’s stock worth $2,939,000 after purchasing an additional 447 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Cincinnati Financial in the 1st quarter valued at about $315,000. BankChampaign National Association acquired a new position in shares of Cincinnati Financial during the 1st quarter worth about $293,000. Kentucky Retirement Systems increased its position in Cincinnati Financial by 25.9% during the first quarter. Kentucky Retirement Systems now owns 12,174 shares of the insurance provider’s stock worth $1,916,000 after buying an additional 2,503 shares during the last quarter. Finally, Bull Harbor Capital LLC acquired a new stake in shares of Cincinnati Financial in the first quarter valued at approximately $352,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Company Profile

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.