OP Asset Management Ltd Takes $2.54 Million Position in Cincinnati Financial Corporation $CINF

OP Asset Management Ltd bought a new stake in Cincinnati Financial Corporation (NASDAQ:CINFFree Report) during the first quarter, HoldingsChannel.com reports. The fund bought 16,157 shares of the insurance provider’s stock, valued at approximately $2,542,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Cincinnati Financial in the 1st quarter valued at approximately $192,000. CENTRAL TRUST Co boosted its stake in Cincinnati Financial by 22.2% in the 1st quarter. CENTRAL TRUST Co now owns 5,289 shares of the insurance provider’s stock valued at $832,000 after buying an additional 961 shares in the last quarter. Birch Financial Group LLC boosted its stake in Cincinnati Financial by 20.2% in the 1st quarter. Birch Financial Group LLC now owns 2,558 shares of the insurance provider’s stock valued at $403,000 after buying an additional 430 shares in the last quarter. SG Americas Securities LLC grew its position in Cincinnati Financial by 48.4% in the first quarter. SG Americas Securities LLC now owns 199,339 shares of the insurance provider’s stock valued at $31,366,000 after acquiring an additional 64,988 shares during the period. Finally, Smith Salley Wealth Management bought a new stake in Cincinnati Financial in the first quarter valued at $235,000. Institutional investors and hedge funds own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of a number of analyst reports. Roth Mkm lifted their price objective on Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Piper Sandler upped their target price on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Bank of America reduced their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cincinnati Financial presently has an average rating of “Buy” and an average target price of $183.25.

Get Our Latest Analysis on CINF

Cincinnati Financial Stock Performance

CINF stock opened at $184.08 on Friday. The business’s fifty day moving average is $166.23 and its 200-day moving average is $164.09. Cincinnati Financial Corporation has a twelve month low of $143.87 and a twelve month high of $185.20. The company has a market cap of $28.48 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 4.00 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 released its quarterly earnings data on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts forecast that Cincinnati Financial Corporation will post 8.61 EPS for the current year.

Cincinnati Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.

Cincinnati Financial Company 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.

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

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