Principal Financial Group Inc. Has $33.52 Million Stock Holdings in Cincinnati Financial Corporation $CINF

Principal Financial Group Inc. boosted its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,074 shares of the insurance provider’s stock after acquiring an additional 5,717 shares during the period. Principal Financial Group Inc. owned 0.12% of Cincinnati Financial worth $33,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Cincinnati Financial by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,125,979 shares of the insurance provider’s stock valued at $671,265,000 after purchasing an additional 25,888 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Cincinnati Financial during the 4th quarter worth approximately $1,231,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Cincinnati Financial during the 1st quarter worth approximately $12,002,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Cincinnati Financial by 3.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider’s stock worth $58,017,000 after buying an additional 10,483 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Cincinnati Financial by 22.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 17,574 shares of the insurance provider’s stock worth $2,870,000 after buying an additional 3,216 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CINF shares. Weiss Ratings upgraded shares of Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, August 6th. Roth Capital upped their target price on shares of Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler upped 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. Keefe, Bruyette & Woods cut their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 5th. Finally, Atlantic Securities set a $197.00 price target on Cincinnati Financial in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $195.40.

Cincinnati Financial Trading Up 0.3%

NASDAQ CINF opened at $173.17 on Friday. Cincinnati Financial Corporation has a one year low of $149.60 and a one year high of $194.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $26.58 billion, a P/E ratio of 8.17, a P/E/G ratio of 3.61 and a beta of 0.54. The stock’s 50-day moving average is $177.61 and its 200-day moving average is $168.16.

Cincinnati Financial (NASDAQ:CINF) last issued its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a net margin of 23.84% and a return on equity of 9.63%. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the prior year, the firm posted $1.97 earnings per share. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.31 earnings per share for the current fiscal year.

Cincinnati Financial 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.