20,000 Shares in Cincinnati Financial Corporation $CINF Acquired by Strive Asset Management LLC

Strive Asset Management LLC bought a new position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the insurance provider’s stock, valued at approximately $3,162,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Cincinnati Financial during the 2nd quarter valued at approximately $235,714,000. Vanguard Group Inc. boosted its position in shares of Cincinnati Financial by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after acquiring an additional 317,033 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after purchasing an additional 262,715 shares in the last quarter. Amundi increased its position in Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after purchasing an additional 242,020 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Cincinnati Financial by 43.9% during the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after purchasing an additional 173,343 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Piper Sandler increased their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Keefe, Bruyette & Woods boosted their price objective on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.33.

Cincinnati Financial Stock Up 3.7%

Shares of NASDAQ:CINF opened at $169.98 on Tuesday. The firm has a market capitalization of $26.45 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 3.65 and a beta of 0.63. The business has a 50 day simple moving average of $163.35 and a two-hundred day simple moving average of $160.58. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $3.14 EPS. Cincinnati Financial’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that Cincinnati Financial Corporation will post 5.36 EPS for the current year.

Cincinnati Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s dividend payout ratio is 22.94%.

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.