Hsbc Holdings PLC Purchases 68,010 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

Hsbc Holdings PLC grew its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 21.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,931 shares of the insurance provider’s stock after purchasing an additional 68,010 shares during the quarter. Hsbc Holdings PLC owned about 0.24% of Cincinnati Financial worth $54,981,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Cincinnati Financial during the 4th quarter valued at $223,959,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cincinnati Financial by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,006,254 shares of the insurance provider’s stock valued at $863,099,000 after purchasing an additional 224,033 shares during the period. First Trust Advisors LP lifted its holdings in Cincinnati Financial by 26.7% during the 4th quarter. First Trust Advisors LP now owns 980,582 shares of the insurance provider’s stock worth $140,910,000 after purchasing an additional 206,693 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cincinnati Financial by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,930,022 shares of the insurance provider’s stock worth $563,323,000 after purchasing an additional 185,705 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Cincinnati Financial by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,167,705 shares of the insurance provider’s stock valued at $2,754,399,000 after buying an additional 173,417 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CINF. Keefe, Bruyette & Woods lowered their price target on shares of Cincinnati Financial from $182.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. StockNews.com raised shares of Cincinnati Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Roth Mkm upped their price target on shares of Cincinnati Financial from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.40.

Cincinnati Financial Stock Performance

Cincinnati Financial stock opened at $135.36 on Friday. Cincinnati Financial Co. has a fifty-two week low of $109.93 and a fifty-two week high of $161.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.31 and a current ratio of 0.29. The stock has a market cap of $21.19 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 8.30 and a beta of 0.53. The firm’s fifty day moving average price is $139.26 and its 200-day moving average price is $142.45.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings results on Monday, February 10th. The insurance provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $1.24. Cincinnati Financial had a return on equity of 9.01% and a net margin of 20.22%. On average, equities research analysts expect that Cincinnati Financial Co. will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 24th were given a dividend of $0.87 per share. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.81. This represents a $3.48 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Monday, March 24th. Cincinnati Financial’s dividend payout ratio (DPR) is presently 23.97%.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.