Cincinnati Financial (NASDAQ:CINF) Sets New 52-Week High Following Dividend Announcement

Cincinnati Financial Co. (NASDAQ:CINF)’s stock price hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as $152.85 and last traded at $151.78, with a volume of 56884 shares changing hands. 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 paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.14%. Cincinnati Financial’s payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

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

Cincinnati Financial Price Performance

The firm has a fifty day moving average of $139.54 and a 200 day moving average of $128.31. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $23.71 billion, a P/E ratio of 7.78, a P/E/G ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced 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 company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $1.66 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cincinnati Financial Co. will post 6.32 EPS for the current year.

Institutional Investors Weigh In On Cincinnati Financial

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cincinnati Financial by 26.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,782,221 shares of the insurance provider’s stock valued at $787,076,000 after buying an additional 1,218,919 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cincinnati Financial by 583.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 385,918 shares of the insurance provider’s stock valued at $52,531,000 after acquiring an additional 329,435 shares during the period. AQR Capital Management LLC lifted its holdings in Cincinnati Financial by 39.4% in the second quarter. AQR Capital Management LLC now owns 981,333 shares of the insurance provider’s stock valued at $115,758,000 after acquiring an additional 277,550 shares during the period. Dimensional Fund Advisors LP boosted its position in Cincinnati Financial by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,349,462 shares of the insurance provider’s stock worth $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Finally, Natixis bought a new stake in shares of Cincinnati Financial during the 1st quarter valued at about $22,053,000. 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.