Cincinnati Financial (NASDAQ:CINF) Sets New 12-Month High – Still a Buy?
by Renee Jackson · The Cerbat GemShares of Cincinnati Financial Corporation (NASDAQ:CINF – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $171.45 and last traded at $170.2410, with a volume of 67765 shares trading hands. The stock had previously closed at $168.95.
Wall Street Analyst Weigh In
A number of brokerages recently commented on CINF. Wall Street Zen upgraded Cincinnati Financial from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Piper Sandler increased their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Roth Mkm reissued a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Moderate Buy” and an average target price of $174.33.
View Our Latest Research Report on Cincinnati Financial
Cincinnati Financial Stock Performance
The company has a fifty day moving average of $163.42 and a 200 day moving average of $158.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $26.69 billion, a P/E ratio of 12.74, a PEG ratio of 3.71 and a beta of 0.66.
Cincinnati Financial Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio is currently 25.89%.
Institutional Trading of Cincinnati Financial
A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its holdings in shares of Cincinnati Financial by 322.9% during the third quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after acquiring an additional 71,378 shares during the period. Narwhal Capital Management increased its position in shares of Cincinnati Financial by 62.4% during the 3rd quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock worth $7,109,000 after purchasing an additional 17,276 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its position in Cincinnati Financial by 127.9% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,310 shares of the insurance provider’s stock valued at $2,104,000 after buying an additional 7,469 shares in the last quarter. AE Wealth Management LLC grew its stake in Cincinnati Financial by 1,102.8% during the third quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after buying an additional 46,757 shares during the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in Cincinnati Financial during the third quarter worth about $1,053,000. 65.24% of the stock is currently owned by institutional investors.
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.