Cibc World Markets Corp Increases Stock Position in Cincinnati Financial Co. (NASDAQ:CINF)

Cibc World Markets Corp increased its holdings in shares of Cincinnati Financial Co. (NASDAQ:CINFFree Report) by 44.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,388 shares of the insurance provider’s stock after acquiring an additional 11,196 shares during the quarter. Cibc World Markets Corp’s holdings in Cincinnati Financial were worth $3,765,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CINF. Assetmark Inc. increased its stake in shares of Cincinnati Financial by 252.2% in the fourth quarter. Assetmark Inc. now owns 243 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 174 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in Cincinnati Financial in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the 4th quarter valued at $31,000. Integrated Investment Consultants LLC purchased a new stake in Cincinnati Financial during the fourth quarter valued at about $39,000. Finally, GoalVest Advisory LLC lifted its position in Cincinnati Financial by 122.9% in the 4th quarter. GoalVest Advisory LLC now owns 390 shares of the insurance provider’s stock worth $40,000 after buying an additional 215 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cincinnati Financial

In other news, Director Dirk J. Debbink bought 1,000 shares of the stock in a transaction dated Monday, April 29th. The stock was bought at an average price of $113.47 per share, for a total transaction of $113,470.00. Following the purchase, the director now directly owns 53,988 shares in the company, valued at approximately $6,126,018.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CINF shares. Keefe, Bruyette & Woods upped their price objective on shares of Cincinnati Financial from $136.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler reissued a “neutral” rating and issued a $116.00 target price on shares of Cincinnati Financial in a research note on Monday, April 1st. BMO Capital Markets upgraded Cincinnati Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $125.00 to $135.00 in a research report on Monday, March 25th. Finally, Citigroup boosted their price objective on Cincinnati Financial from $120.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $126.00.

View Our Latest Analysis on CINF

Cincinnati Financial Price Performance

CINF opened at $115.97 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $18.16 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 2.45 and a beta of 0.65. The stock’s 50 day moving average price is $117.90 and its 200-day moving average price is $112.58. Cincinnati Financial Co. has a 52-week low of $95.01 and a 52-week high of $124.35.

Cincinnati Financial (NASDAQ:CINFGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.03. Cincinnati Financial had a net margin of 22.16% and a return on equity of 9.34%. The business had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $0.89 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Financial Co. will post 6.37 EPS for the current year.

Cincinnati Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, June 18th will be issued a $0.81 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $3.24 annualized dividend and a yield of 2.79%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 21.56%.

About Cincinnati Financial

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cincinnati Financial (NASDAQ:CINF)

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