Louisiana State Employees Retirement System acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,000 shares of the insurance provider’s stock, valued at approximately $1,259,000.
Other large investors have also added to or reduced their stakes in the company. William B. Walkup & Associates Inc. grew its holdings in Cincinnati Financial by 2.9% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,898 shares of the insurance provider’s stock worth $428,000 after acquiring an additional 82 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Cincinnati Financial during the first quarter valued at $2,542,000. Banque Cantonale Vaudoise bought a new position in shares of Cincinnati Financial during the first quarter valued at $192,000. CENTRAL TRUST Co raised its stake in shares of Cincinnati Financial by 22.2% during the first quarter. CENTRAL TRUST Co now owns 5,289 shares of the insurance provider’s stock valued at $832,000 after acquiring an additional 961 shares during the last quarter. Finally, Birch Financial Group LLC lifted its holdings in shares of Cincinnati Financial by 20.2% during the first quarter. Birch Financial Group LLC now owns 2,558 shares of the insurance provider’s stock worth $403,000 after purchasing an additional 430 shares during the period. Institutional investors own 65.24% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $161.00 to $175.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Roth Mkm raised 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. Bank of America cut their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Finally, Keefe, Bruyette & Woods increased their price target on Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $183.25.
Cincinnati Financial Stock Performance
NASDAQ:CINF opened at $192.03 on Friday. The firm’s fifty day moving average is $168.51 and its 200-day moving average is $164.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.28 and a current ratio of 0.28. Cincinnati Financial Corporation has a 52 week low of $143.87 and a 52 week high of $192.09. The firm has a market cap of $29.70 billion, a P/E ratio of 10.98, a P/E/G ratio of 4.15 and a beta of 0.54.
Cincinnati Financial (NASDAQ:CINF – Get 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 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 the consensus estimate of $2.61 billion. During the same quarter last year, the firm earned ($0.24) earnings per share. Cincinnati Financial’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts expect that Cincinnati Financial Corporation will post 8.66 earnings per share for the current year.
Cincinnati Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, June 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.50%.
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.
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