Cincinnati Financial (NASDAQ:CINF) Reaches New 12-Month High - Here's What Happened

Key Points

• Cincinnati Financial Corporation shares hit a new 52-week high at $163.00 during trading, reflecting a recent price increase.
• Analysts have shown optimism with target price upgrades, with Roth Capital setting a new target at $175.00 and maintaining a "buy" rating.
• The company reported $1.97 earnings per share for the last quarter, significantly exceeding the consensus estimate of $1.39.

Shares of Cincinnati Financial Corporation (NASDAQ:CINF - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $162.65 and last traded at $163.00, with a volume of 22481 shares changing hands. The stock had previously closed at $160.51.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $167.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Roth Capital increased their price target on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Cincinnati Financial in a report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.40.

Cincinnati Financial Stock Up 2.0%

The firm has a market cap of $25.59 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 7.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. The company has a 50-day simple moving average of $153.34 and a 200-day simple moving average of $147.33.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last issued its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.58. The business had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.80 billion. Cincinnati Financial had a return on equity of 7.14% and a net margin of 15.59%.The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. Analysts expect that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 22nd will be issued a $0.87 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 2.1%. Cincinnati Financial's payout ratio is currently 30.18%.

Institutional Investors Weigh In On Cincinnati Financial

A number of large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in shares of Cincinnati Financial during the first quarter worth about $337,000. FJ Capital Management LLC lifted its stake in shares of Cincinnati Financial by 97.5% in the 1st quarter. FJ Capital Management LLC now owns 29,293 shares of the insurance provider's stock valued at $4,327,000 after purchasing an additional 14,464 shares during the period. M&T Bank Corp grew its position in shares of Cincinnati Financial by 12.7% during the 1st quarter. M&T Bank Corp now owns 7,857 shares of the insurance provider's stock valued at $1,161,000 after acquiring an additional 887 shares during the period. CWA Asset Management Group LLC lifted its position in shares of Cincinnati Financial by 4.1% during the 1st quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after buying an additional 94 shares in the last quarter. Finally, OLD Republic International Corp grew its position in shares of Cincinnati Financial by 1.0% in the first quarter. OLD Republic International Corp now owns 399,100 shares of the insurance provider's stock valued at $58,955,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 65.24% of the company's stock.

Cincinnati Financial Company Profile

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.

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