Caisse de depot et placement du Quebec Makes New $96.61 Million Investment in Cincinnati Financial Corporation $CINF

Caisse de depot et placement du Quebec purchased a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 521,801 shares of the insurance provider’s stock, valued at approximately $96,606,000.

A number of other institutional investors have also recently made changes to their positions in the business. BIP Wealth LLC grew its stake in Cincinnati Financial by 1.6% during the 2nd quarter. BIP Wealth LLC now owns 3,891 shares of the insurance provider’s stock worth $720,000 after buying an additional 63 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Cincinnati Financial by 0.5% in the second quarter. Oppenheimer & Co. Inc. now owns 14,129 shares of the insurance provider’s stock valued at $2,616,000 after buying an additional 68 shares during the last quarter. McAdam LLC raised its stake in Cincinnati Financial by 2.6% in the second quarter. McAdam LLC now owns 2,763 shares of the insurance provider’s stock valued at $512,000 after buying an additional 70 shares during the last quarter. Triton Financial Group Inc boosted its holdings in Cincinnati Financial by 0.7% in the fourth quarter. Triton Financial Group Inc now owns 10,518 shares of the insurance provider’s stock worth $1,718,000 after acquiring an additional 73 shares in the last quarter. Finally, Essex Financial Services Inc. boosted its holdings in Cincinnati Financial by 3.5% in the fourth quarter. Essex Financial Services Inc. now owns 2,288 shares of the insurance provider’s stock worth $374,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a report on Wednesday, August 5th. Piper Sandler lifted their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Finally, Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $195.40.

Cincinnati Financial Trading Up 0.6%

Cincinnati Financial stock opened at $172.38 on Thursday. The firm has a market cap of $26.46 billion, a PE ratio of 8.13, a P/E/G ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a 12 month low of $150.00 and a 12 month high of $194.81. The stock’s 50 day simple moving average is $178.01 and its two-hundred day simple moving average is $168.65. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.05.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the firm earned $1.97 earnings per share. Analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

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.