Cincinnati Financial (NASDAQ:CINF) Reaches New 12-Month High After Dividend Announcement

Cincinnati Financial Co. (NASDAQ:CINF)’s stock price reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $152.85 and last traded at $151.78, with a volume of 56884 shares traded. The stock had previously closed at $151.78.

The newly announced dividend which will be paid on Wednesday, January 15th. Investors of record on Thursday, December 19th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 2.13%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Price Performance

The company has a market cap of $23.78 billion, a P/E ratio of 7.82, a PEG ratio of 2.89 and a beta of 0.65. The company has a fifty day moving average price of $139.84 and a two-hundred day moving average price of $128.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported $1.42 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 business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $1.66 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, sell-side analysts anticipate that Cincinnati Financial Co. will post 6.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cincinnati Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank lifted its position in Cincinnati Financial by 1.2% during the third quarter. Toronto Dominion Bank now owns 77,418 shares of the insurance provider’s stock worth $10,538,000 after acquiring an additional 895 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of Cincinnati Financial by 6.3% in the third quarter. Coldstream Capital Management Inc. now owns 2,941 shares of the insurance provider’s stock valued at $402,000 after buying an additional 175 shares in the last quarter. Brophy Wealth Management LLC acquired a new stake in shares of Cincinnati Financial in the third quarter valued at approximately $257,000. M&T Bank Corp raised its position in shares of Cincinnati Financial by 4.2% in the third quarter. M&T Bank Corp now owns 6,988 shares of the insurance provider’s stock valued at $951,000 after buying an additional 282 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Cincinnati Financial by 13.1% in the third quarter. Barclays PLC now owns 534,361 shares of the insurance provider’s stock valued at $72,736,000 after buying an additional 61,801 shares in the last quarter. 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.