CIBC Asset Management Inc Buys 18,330 Shares of Cincinnati Financial Corporation $CINF

CIBC Asset Management Inc lifted its holdings in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) by 84.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,967 shares of the insurance provider’s stock after acquiring an additional 18,330 shares during the period. CIBC Asset Management Inc’s holdings in Cincinnati Financial were worth $6,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in shares of Cincinnati Financial in the 3rd quarter worth about $2,511,000. Western Wealth Management LLC bought a new position in shares of Cincinnati Financial in the 3rd quarter worth about $1,622,000. Johnson Investment Counsel Inc. raised its position 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 worth $222,238,000 after acquiring an additional 37,913 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Cincinnati Financial in the 3rd quarter worth about $1,503,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Cincinnati Financial by 74.8% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,339 shares of the insurance provider’s stock worth $2,267,000 after acquiring an additional 6,135 shares in the last quarter. 65.24% of the stock is owned by institutional investors.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $165.29 on Friday. Cincinnati Financial Corporation has a twelve month low of $143.37 and a twelve month high of $174.27. The stock’s 50 day moving average price is $162.76 and its 200-day moving average price is $163.41. The company has a market capitalization of $25.57 billion, a PE ratio of 9.45, a PEG ratio of 3.59 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last announced its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a return on equity of 10.57% and a net margin of 21.33%.The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be paid a $0.94 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio is presently 21.50%.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America decreased their price objective on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Roth Mkm boosted their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their target price on Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on Cincinnati Financial from $190.00 to $191.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $183.25.

Check Out Our Latest Research Report on CINF

Cincinnati Financial Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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