Hsbc Holdings PLC raised its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) by 19.3% during the 4th quarter, Holdings Channel reports. The fund owned 395,583 shares of the insurance provider’s stock after purchasing an additional 63,954 shares during the period. Hsbc Holdings PLC’s holdings in Cincinnati Financial were worth $64,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cincinnati Financial in the fourth quarter worth $270,892,000. Arrowstreet Capital Limited Partnership raised 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 in the last quarter. First Trust Advisors LP lifted its holdings in Cincinnati Financial by 38.5% in the fourth quarter. First Trust Advisors LP now owns 1,319,873 shares of the insurance provider’s stock worth $215,562,000 after purchasing an additional 367,224 shares during the period. Raymond James Financial Inc. lifted its holdings in Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after purchasing an additional 262,715 shares during the period. Finally, Korea Investment CORP grew its position in Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after buying an additional 199,437 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.
Cincinnati Financial Trading Up 1.3%
Shares of NASDAQ:CINF opened at $172.46 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $26.68 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 3.70 and a beta of 0.57. Cincinnati Financial Corporation has a 1-year low of $143.37 and a 1-year high of $175.34. The company has a 50 day moving average price of $164.93 and a 200 day moving average price of $163.64.
Cincinnati Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is 21.50%.
Analyst Upgrades and Downgrades
CINF has been the topic of several research analyst reports. Bank of America lowered their target price on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 11th. 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 report on Wednesday, April 29th. Finally, Roth Mkm upped their target price on Cincinnati Financial from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.25.
Read Our Latest Analysis on Cincinnati Financial
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.
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