20,000 Shares in Cincinnati Financial Corporation $CINF Bought by Strive Asset Management LLC

Strive Asset Management LLC acquired a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 20,000 shares of the insurance provider’s stock, valued at approximately $3,162,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CINF. Vanguard Group Inc. increased its position in shares of Cincinnati Financial by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after buying an additional 317,033 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Cincinnati Financial by 1.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after acquiring an additional 106,266 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Cincinnati Financial by 4.2% during the 2nd quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock worth $299,553,000 after acquiring an additional 80,487 shares during the period. Norges Bank bought a new position in shares of Cincinnati Financial in the 2nd quarter worth approximately $235,714,000. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Cincinnati Financial by 2.8% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock valued at $222,238,000 after purchasing an additional 37,913 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen cut 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 report on Monday, December 29th. Keefe, Bruyette & Woods upped their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler boosted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Cincinnati Financial currently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Trading Up 3.7%

Shares of NASDAQ CINF opened at $169.98 on Tuesday. The firm’s 50 day moving average price is $163.35 and its 200-day moving average price is $160.58. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $26.45 billion, a PE ratio of 11.21, a P/E/G ratio of 3.65 and a beta of 0.63.

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

Cincinnati Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a yield of 2.2%. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s payout ratio is 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.