Healthcare of Ontario Pension Plan Trust Fund Has $1.54 Million Stock Position in Cincinnati Financial Corporation $CINF

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 92.9% during the first quarter, Holdings Channel reports. The fund owned 9,803 shares of the insurance provider’s stock after selling 127,786 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cincinnati Financial were worth $1,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CINF. Norges Bank bought a new position in shares of Cincinnati Financial in the fourth quarter worth about $270,892,000. First Trust Advisors LP grew its stake in shares of Cincinnati Financial by 59.4% during the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock valued at $331,136,000 after purchasing an additional 784,584 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cincinnati Financial by 193.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock valued at $98,161,000 after purchasing an additional 396,086 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of Cincinnati Financial by 48.6% in 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 in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Cincinnati Financial in the fourth quarter valued at approximately $32,692,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Performance

Shares of Cincinnati Financial stock opened at $177.68 on Friday. The firm has a fifty day moving average of $174.77 and a two-hundred day moving average of $167.16. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 3.71 and a beta of 0.54. Cincinnati Financial Corporation has a 52 week low of $143.87 and a 52 week high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.28 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the company earned $1.97 EPS. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 8.51 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on CINF shares. Roth Capital upped their price objective on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Piper Sandler boosted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.60.

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.