Vanguard Group Inc. Increases Position in Cincinnati Financial Corporation $CINF

Vanguard Group Inc. raised its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,602,454 shares of the insurance provider’s stock after buying an additional 29,943 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Cincinnati Financial worth $3,099,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Cincinnati Financial in the 2nd quarter valued at approximately $235,714,000. Raymond James Financial Inc. increased its holdings in Cincinnati Financial by 48.6% during the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares during the last quarter. Amundi raised its holdings in Cincinnati Financial by 113.6% in the 2nd 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 period. Goldman Sachs Group Inc. raised its stake in shares of Cincinnati Financial by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after buying an additional 173,343 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Cincinnati Financial by 32.5% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 516,636 shares of the insurance provider’s stock worth $81,605,000 after purchasing an additional 126,742 shares during the period. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Price Performance

Shares of NASDAQ CINF opened at $163.25 on Thursday. The company has a market cap of $25.47 billion, a PE ratio of 10.76, a P/E/G ratio of 3.72 and a beta of 0.66. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. The business has a 50-day simple moving average of $163.80 and a two-hundred day simple moving average of $159.84.

Cincinnati Financial (NASDAQ:CINF) last posted 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. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company posted $3.14 earnings per share. As a group, equities analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. This is a boost from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s payout ratio is 22.94%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CINF. Wall Street Zen cut Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Roth Mkm restated a “buy” rating and set a $175.00 price objective on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Piper Sandler increased their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods lifted their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.33.

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.