Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Cincinnati Financial Co. (NASDAQ:CINF)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cincinnati Financial Co. (NASDAQ:CINF) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,897 shares of the insurance provider’s stock after acquiring an additional 5,896 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cincinnati Financial were worth $3,649,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cincinnati Financial in the 4th quarter worth about $179,305,000. Dimensional Fund Advisors LP raised its holdings in shares of Cincinnati Financial by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,093,275 shares of the insurance provider’s stock worth $113,110,000 after buying an additional 54,687 shares during the period. Bahl & Gaynor Inc. lifted its stake in shares of Cincinnati Financial by 0.3% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,008,406 shares of the insurance provider’s stock worth $125,214,000 after acquiring an additional 3,191 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cincinnati Financial by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,126 shares of the insurance provider’s stock valued at $94,058,000 after acquiring an additional 31,581 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in Cincinnati Financial by 7.8% during the 2nd quarter. Boston Trust Walden Corp now owns 757,795 shares of the insurance provider’s stock valued at $89,496,000 after acquiring an additional 55,033 shares during the period. Institutional investors own 65.24% of the company’s stock.

Wall Street Analysts Forecast Growth

CINF has been the subject of several research analyst reports. Roth Mkm lifted their target price on Cincinnati Financial from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Cincinnati Financial from $146.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Bank of America dropped their target price on shares of Cincinnati Financial from $151.00 to $149.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Citigroup raised shares of Cincinnati Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $135.00 in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.57.

Cincinnati Financial Price Performance

Shares of CINF stock opened at $137.03 on Friday. The stock’s 50-day moving average is $125.08 and its 200 day moving average is $119.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.27 and a quick ratio of 0.27. Cincinnati Financial Co. has a 1-year low of $96.86 and a 1-year high of $137.51. The company has a market cap of $21.45 billion, a P/E ratio of 9.12, a PEG ratio of 2.84 and a beta of 0.65.

Cincinnati Financial (NASDAQ:CINF) last announced its earnings results on Thursday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.33. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.21 billion. Cincinnati Financial had a net margin of 20.20% and a return on equity of 9.10%. Cincinnati Financial’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Research analysts predict that Cincinnati Financial Co. will post 6.46 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.81 per share. The ex-dividend date is Tuesday, September 17th. This represents a $3.24 annualized dividend and a dividend yield of 2.36%. Cincinnati Financial’s dividend payout ratio (DPR) is currently 21.56%.

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.