Vanguard Group Inc. Raises Position in Cincinnati Financial Corporation $CINF

Vanguard Group Inc. boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,602,454 shares of the insurance provider’s stock after purchasing an additional 29,943 shares during the period. Vanguard Group Inc. owned about 12.56% of Cincinnati Financial worth $3,099,148,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CINF. Norges Bank purchased a new position in shares of Cincinnati Financial during the 2nd quarter valued at $235,714,000. Raymond James Financial Inc. lifted its holdings in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares during the last quarter. Amundi increased its stake in shares of Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after purchasing an additional 242,020 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Cincinnati Financial by 32.5% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 516,636 shares of the insurance provider’s stock valued at $81,605,000 after buying an additional 126,742 shares in the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $175.00 price objective on shares of Cincinnati Financial in a research note on Tuesday, October 28th. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings restated a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price target on Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.33.

Cincinnati Financial Stock Performance

NASDAQ:CINF opened at $163.25 on Thursday. The firm has a market cap of $25.47 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 3.72 and a beta of 0.66. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. The business has a 50 day moving average price of $163.80 and a 200-day moving average price of $159.84.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the company earned $3.14 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current year.

Cincinnati Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be issued a $0.94 dividend. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 22.94%.

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.