Cincinnati Financial (NASDAQ:CINF) Hits New 52-Week High - Here's Why

Cincinnati Financial Co. (NASDAQ:CINF - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $140.00 and last traded at $140.00, with a volume of 226 shares traded. The stock had previously closed at $138.72.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent research reports. Citigroup upgraded Cincinnati Financial from a "neutral" rating to a "buy" rating and increased their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Keefe, Bruyette & Woods increased their price objective on Cincinnati Financial from $146.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Roth Mkm increased their price objective on Cincinnati Financial from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Bank of America lowered their price objective on Cincinnati Financial from $151.00 to $149.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $133.57.

Cincinnati Financial Trading Down 4.2 %

The firm has a market cap of $20.80 billion, a P/E ratio of 8.82, a PEG ratio of 2.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. The stock has a 50 day moving average of $133.34 and a 200 day moving average of $123.56.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last released its earnings results on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.33. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.21 billion. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The firm's revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. As a group, equities research analysts predict that Cincinnati Financial Co. will post 6.58 EPS for the current year.

Cincinnati Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.24 dividend on an annualized basis and a yield of 2.44%. Cincinnati Financial's dividend payout ratio is presently 21.56%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new position in shares of Cincinnati Financial during the fourth quarter valued at about $31,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Cincinnati Financial by 49.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the insurance provider's stock valued at $33,000 after buying an additional 80 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Cincinnati Financial during the first quarter valued at about $47,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Cincinnati Financial during the second quarter valued at about $49,000. Institutional investors own 65.24% of the company's stock.

About Cincinnati Financial

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.