Cincinnati Financial (NASDAQ:CINF) Reaches New 52-Week High – Here’s Why

Cincinnati Financial Corporation (NASDAQ:CINF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $171.45 and last traded at $170.2410, with a volume of 67765 shares changing hands. The stock had previously closed at $168.95.

Analyst Ratings Changes

CINF has been the topic of a number of analyst reports. Wall Street Zen raised Cincinnati Financial from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Roth Mkm restated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

The company has a fifty day moving average of $163.57 and a two-hundred day moving average of $158.92. The stock has a market capitalization of $26.94 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 3.89 and a beta of 0.66. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.30 and a quick ratio of 0.30.

Cincinnati Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be issued a $0.94 dividend. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 25.89%.

Hedge Funds Weigh In On Cincinnati Financial

A number of hedge funds have recently added to or reduced their stakes in CINF. Lodestone Wealth Management LLC acquired a new stake in Cincinnati Financial during the fourth quarter worth about $25,000. LRI Investments LLC acquired a new position in Cincinnati Financial in the third quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new position in shares of Cincinnati Financial during the third quarter valued at approximately $30,000. AlphaQuest LLC raised its position in shares of Cincinnati Financial by 714.3% during the 2nd quarter. AlphaQuest LLC now owns 228 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 200 shares during the period. Finally, Quent Capital LLC bought a new stake in shares of Cincinnati Financial in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

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.