Weiss Asset Management LP Invests $19.72 Million in Cincinnati Financial Corporation $CINF

Weiss Asset Management LP acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 125,354 shares of the insurance provider’s stock, valued at approximately $19,724,000.

A number of other large investors also recently bought and sold shares of CINF. Norges Bank purchased a new position in Cincinnati Financial during the fourth quarter worth about $270,892,000. First Trust Advisors LP raised its stake in shares of Cincinnati Financial by 59.4% in the 1st quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after acquiring an additional 784,584 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Cincinnati Financial by 193.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after acquiring an additional 396,086 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after acquiring an additional 262,715 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Cincinnati Financial during the 4th quarter worth approximately $32,692,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Trading Up 1.9%

NASDAQ CINF opened at $182.81 on Friday. The firm has a 50 day simple moving average of $173.56 and a 200-day simple moving average of $166.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. Cincinnati Financial Corporation has a one year low of $143.87 and a one year high of $194.81. The firm has a market cap of $28.28 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 3.74 and a beta of 0.54.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business posted ($0.24) earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Cincinnati Financial Corporation will post 8.76 EPS for the current fiscal year.

Cincinnati Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.50%.

Analyst Ratings Changes

CINF has been the subject of several research reports. Atlantic Securities set a $197.00 target price on shares of Cincinnati Financial in a report on Wednesday, July 15th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, June 26th. Piper Sandler raised their price target on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Roth Capital lifted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $201.00 price objective (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cincinnati Financial has a consensus rating of “Moderate Buy” and an average target price of $192.40.

Cincinnati Financial Company Profile

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.