Commerce Bank Invests $2.24 Million in Cincinnati Financial Corporation $CINF

Commerce Bank acquired a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,085 shares of the insurance provider’s stock, valued at approximately $2,237,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CINF. GQG Partners LLC bought a new stake in shares of Cincinnati Financial during the 2nd quarter valued at about $216,679,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Cincinnati Financial in the second quarter worth approximately $1,698,000. Evolve Private Wealth LLC bought a new position in shares of Cincinnati Financial in the second quarter worth approximately $256,000. Westpac Banking Corp purchased a new stake in Cincinnati Financial in the second quarter valued at approximately $55,000. Finally, Korea Investment CORP purchased a new stake in Cincinnati Financial in the second quarter valued at approximately $25,784,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Financial Trading Up 1.7%

CINF stock opened at $171.21 on Tuesday. The company has a market capitalization of $26.28 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55. Cincinnati Financial Corporation has a one year low of $150.00 and a one year high of $194.81. The company’s 50 day moving average price is $178.00 and its two-hundred day moving average price is $168.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) 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 business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $2.71 billion. During the same period last year, the company posted $1.97 EPS. As a group, analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Atlantic Securities set a $197.00 price target on shares of Cincinnati Financial in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lowered 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 research report on Wednesday, August 5th. Roth Capital lifted their price objective on shares of Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Piper Sandler increased their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings downgraded Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.40.

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.