abrdn plc Purchases 38,084 Shares of Cincinnati Financial Co. (NASDAQ:CINF)

abrdn plc lifted its position in shares of Cincinnati Financial Co. (NASDAQ:CINF) by 81.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,981 shares of the insurance provider’s stock after purchasing an additional 38,084 shares during the period. abrdn plc owned 0.05% of Cincinnati Financial worth $8,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in Cincinnati Financial during the 4th quarter worth $31,000. NBC Securities Inc. acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $39,000. Integrated Investment Consultants LLC acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at $39,000. GoalVest Advisory LLC boosted its holdings in shares of Cincinnati Financial by 122.9% in the 4th quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 215 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Cincinnati Financial in the 3rd quarter valued at $51,000. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CINF shares. Keefe, Bruyette & Woods raised their target price on Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a report on Monday, April 1st. BMO Capital Markets raised Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their target price for the company from $125.00 to $135.00 in a report on Monday, March 25th. TheStreet raised Cincinnati Financial from a “c+” rating to a “b” rating in a report on Tuesday, February 6th. Finally, Citigroup raised their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cincinnati Financial presently has a consensus rating of “Hold” and an average target price of $123.57.

Cincinnati Financial Trading Down 6.4 %

NASDAQ CINF opened at $110.88 on Friday. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.63. Cincinnati Financial Co. has a twelve month low of $95.01 and a twelve month high of $124.35. The business’s fifty day moving average is $117.71 and its 200 day moving average is $109.08. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.07.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, April 25th. The insurance provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.69 by $0.03. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cincinnati Financial had a return on equity of 8.56% and a net margin of 18.41%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. As a group, sell-side analysts expect that Cincinnati Financial Co. will post 6.33 EPS for the current fiscal year.

Cincinnati Financial Profile

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It 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.