Cincinnati Financial (NASDAQ:CINF) Hits New 1-Year High Following Dividend Announcement

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report)'s share price hit a new 52-week high during mid-day 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 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 issued 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 payout ratio is 16.65%.

Analyst Ratings Changes

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

Cincinnati Financial Price Performance

The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.06. The stock's 50-day simple moving average is $139.54 and its two-hundred day simple moving average is $128.31. The company has a market capitalization of $23.78 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 2.89 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Thursday, October 24th. The insurance provider reported $1.42 earnings per share (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 analysts' expectations of $2.24 billion. During the same period in the previous year, the company earned $1.66 EPS. Cincinnati Financial's quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Co. will post 6.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CINF. Vest Financial LLC lifted its position in shares of Cincinnati Financial by 14.0% during the second quarter. Vest Financial LLC now owns 378,717 shares of the insurance provider's stock worth $44,726,000 after purchasing an additional 46,530 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Cincinnati Financial by 91.4% during the second quarter. Assenagon Asset Management S.A. now owns 118,679 shares of the insurance provider's stock worth $14,016,000 after purchasing an additional 56,686 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Cincinnati Financial by 165.4% during the first quarter. Advisors Asset Management Inc. now owns 7,792 shares of the insurance provider's stock worth $968,000 after purchasing an additional 4,856 shares in the last quarter. Amalgamated Bank lifted its position in shares of Cincinnati Financial by 30.5% during the second quarter. Amalgamated Bank now owns 42,132 shares of the insurance provider's stock worth $4,976,000 after purchasing an additional 9,854 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Cincinnati Financial by 10.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 117,393 shares of the insurance provider's stock valued at $15,923,000 after acquiring an additional 11,282 shares in the last quarter. 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.