Cincinnati Financial (NASDAQ:CINF) hits new 12-month high after dividend announcement

Shares of Cincinnati Financial Co. (NASDAQ:CINF – Get Free Report ) hit a new 52-week high on Friday following the company’s dividend announcement. The company traded as high as $132.79 and last traded at $132.48, with a volume of 6821 shares traded. Shares previously closed at $131.97.

The new dividend announced which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.81 per share. This represents a dividend of $3.24 on an annualized basis and a yield of 2.44%. Cincinnati Financial’s dividend payout ratio is currently 21.56%.

The Wall Street analyst weighs in

CINF has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America decreased their price objective on Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Roth Mkm boosted 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, Citigroup raised Cincinnati Financial from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $135.00 in a research report on Friday, June 28. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cincinnati Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.57, according to MarketBeat.com.

See the latest stock report on CINF

Cincinnati financial price performance

The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 2.84 and a beta of 0.65. The company has a current ratio of 0.27, a quick ratio of 0.27, and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $123.04 and a 200-day moving average price of $118.85.

Cincinnati Financial (NASDAQ:CINF – Get Your Free Report ) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.33. Cincinnati Financial had a return on equity of 9.10% and a net margin of 20.20%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.21 billion. In the same period last year, the company earned $1.21 per share. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, equities research analysts expect Cincinnati Financial Co. to post 6.46 earnings per share for the current year.

Hedge funds influence Cincinnati financially

A number of large investors have recently added to or reduced their stakes in CINF. Norges Bank acquired a new position in shares of Cincinnati Financial during the fourth quarter valued at about $179,305,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Cincinnati Financial by 1.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,514,353 shares of the insurance provider’s stock valued at $178,845,000 after acquiring an additional 16,451 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $159,360,000 after purchasing an additional 187,934 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Cincinnati Financial by 16.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,295,928 shares of the insurance provider’s stock worth $134,077,000 after purchasing an additional 186,629 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its position in shares of Cincinnati Financial by 10.6% during the second quarter. Bahl & Gaynor Inc. now owns 1,115,487 shares of the insurance provider’s stock worth $131,739,000 after buying an additional 107,081 shares in the last quarter. 65.24% of the shares are currently owned by institutional investors and hedge funds.

Cincinnati Financial Company Profile

(Get a free report)

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 insurance segment provides commercial casualty, commercial property, commercial auto and workers’ compensation coverage.

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