Hsbc Holdings PLC Makes New $99.69 Million Investment in Cincinnati Financial Corporation $CINF

Hsbc Holdings PLC purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 537,417 shares of the insurance provider’s stock, valued at approximately $99,691,000. Hsbc Holdings PLC owned approximately 0.35% of Cincinnati Financial at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in 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 in the fourth quarter valued at $1,231,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Cincinnati Financial in the first quarter valued at about $12,002,000. Manning & Napier Advisors LLC acquired a new position in Cincinnati Financial during the 2nd quarter worth about $3,585,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Cincinnati Financial by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 359,259 shares of the insurance provider’s stock worth $58,017,000 after acquiring an additional 10,483 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CINF. Bank of America lowered shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $197.00 to $193.00 in a report on Thursday, July 30th. Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a research report on Wednesday, July 15th. Piper Sandler lifted their target price on Cincinnati Financial from $175.00 to $197.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods dropped their target price on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered Cincinnati Financial from a “buy (a)” rating to a “buy (a-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.40.

Cincinnati Financial Trading Up 0.6%

Shares of NASDAQ CINF opened at $172.38 on Thursday. The company’s 50 day simple moving average is $178.01 and its 200 day simple moving average is $168.65. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The firm has a market capitalization of $26.46 billion, a P/E ratio of 8.13, a P/E/G ratio of 3.59 and a beta of 0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.31 and a quick ratio of 0.31.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.71 billion. During the same period in the previous year, the business posted $1.97 earnings per share. On average, analysts predict that Cincinnati Financial Corporation will post 8.31 EPS for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 23rd will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 23rd. Cincinnati Financial’s dividend payout ratio (DPR) is currently 17.74%.

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.