Korea Investment CORP purchased a new stake in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 139,266 shares of the insurance provider’s stock, valued at approximately $25,784,000.
Several other large investors also recently made changes to their positions in CINF. Keating Financial Advisory Services Inc. bought a new stake in shares of Cincinnati Financial during the second quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new position in Cincinnati Financial in the 4th quarter worth approximately $29,000. Covestor Ltd grew its holdings in Cincinnati Financial by 98.8% in the 2nd quarter. Covestor Ltd now owns 167 shares of the insurance provider’s stock worth $31,000 after buying an additional 83 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Cincinnati Financial in the 1st quarter valued at approximately $34,000. Finally, DV Equities LLC acquired a new stake in Cincinnati Financial in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.24% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on CINF. Atlantic Securities set a $197.00 target price on Cincinnati Financial in a research note on Wednesday, July 15th. Roth Capital increased their price target on Cincinnati Financial from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a report on Friday. Bank of America cut shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $197.00 to $193.00 in a research note on Thursday, July 30th. Finally, Piper Sandler increased their target price on shares of Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cincinnati Financial presently has an average rating of “Moderate Buy” and a consensus price target of $195.40.
Cincinnati Financial Stock Performance
Shares of CINF stock opened at $168.29 on Monday. The stock has a 50-day simple moving average of $177.96 and a 200 day simple moving average of $168.58. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The stock has a market capitalization of $25.83 billion, a P/E ratio of 7.94, a P/E/G ratio of 3.52 and a beta of 0.55. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.05.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The insurance provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter last year, the firm posted $1.97 earnings per share. On average, sell-side analysts expect that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.
Cincinnati Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be paid a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. Cincinnati Financial’s payout ratio is currently 17.74%.
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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