Brookfield Corp ON Acquires Shares of 295,682 Cincinnati Financial Co. (NASDAQ:CINF)

Brookfield Corp ON bought a new position in shares of Cincinnati Financial Co. (NASDAQ:CINF) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 295,682 shares of the insurance provider’s stock, valued at approximately $33,140,000. Brookfield Corp ON owned approximately 0.19% of Cincinnati Financial at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CINF. Norges Bank purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth $149,585,000. Bahl & Gaynor Inc. raised its position in shares of Cincinnati Financial by 92.6% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,008,192 shares of the insurance provider’s stock worth $103,229,000 after buying an additional 484,859 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cincinnati Financial by 16.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,877 shares of the insurance provider’s stock worth $341,458,000 after buying an additional 461,858 shares in the last quarter. Select Equity Group L.P. raised its position in shares of Cincinnati Financial by 294.9% in the fourth quarter. Select Equity Group L.P. now owns 589,409 shares of the insurance provider’s stock worth $60,350,000 after buying an additional 440,158 shares in the last quarter. Finally, State Street Corp raised its position in shares of Cincinnati Financial by 4.1% in the first quarter. State Street Corp now owns 9,120,162 shares of the insurance provider’s stock worth $1,246,056,000 after buying an additional 360,552 shares in the last quarter. Hedge funds and other institutional investors own 64.81% of the company’s stock.

Cincinnati Financial Stock Up 0.9 %

Shares of NASDAQ:CINF opened at $105.91 on Tuesday. The stock’s 50-day moving average price is $104.01 and its 200-day moving average price is $105.33. Cincinnati Financial Co. has a 12-month low of $88.66 and a 12-month high of $130.66. The stock has a market capitalization of $16.61 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.08.

Cincinnati Financial (NASDAQ:CINF) last announced its quarterly earnings data on Thursday, July 27th. The insurance provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.49. Cincinnati Financial had a return on equity of 6.21% and a net margin of 14.45%. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.19 billion. On average, equities analysts anticipate that Cincinnati Financial Co. will post 5 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.83%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 35.05%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CINF shares. TheStreet upgraded Cincinnati Financial from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Bank of America upgraded Cincinnati Financial from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $117.00 in a research report on Thursday, May 18th. Piper Sandler increased their target price on Cincinnati Financial from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Monday, July 31st. StockNews.com began coverage on Cincinnati Financial in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods raised Cincinnati Financial from a “market perform” rating to an “outperform” rating in a research note on Monday, July 10th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Cincinnati Financial presently has an average rating of “Hold” and an average target price of $117.50.

Cincinnati Financial Company Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. The company operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.