Allspring Global Investments Holdings LLC Has $991,000 Stock Position in Cincinnati Financial Corporation $CINF

Allspring Global Investments Holdings LLC lessened its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,635 shares of the insurance provider’s stock after selling 1,207 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cincinnati Financial were worth $991,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CINF. GQG Partners LLC acquired a new position in shares of Cincinnati Financial during the 1st quarter worth approximately $270,005,000. Raymond James Financial Inc. lifted its stake in Cincinnati Financial by 558.8% in the 1st quarter. Raymond James Financial Inc. now owns 540,950 shares of the insurance provider’s stock valued at $79,909,000 after purchasing an additional 458,841 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cincinnati Financial by 6.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,364,272 shares of the insurance provider’s stock valued at $940,130,000 after purchasing an additional 358,018 shares during the last quarter. Nuveen LLC bought a new position in Cincinnati Financial in the 1st quarter valued at approximately $47,070,000. Finally, Woodline Partners LP lifted its stake in Cincinnati Financial by 3,392.1% in the 1st quarter. Woodline Partners LP now owns 327,800 shares of the insurance provider’s stock valued at $48,423,000 after purchasing an additional 318,413 shares during the last quarter. Institutional investors and hedge funds own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 0.5%

Cincinnati Financial stock opened at $155.47 on Thursday. Cincinnati Financial Corporation has a 1-year low of $123.01 and a 1-year high of $166.90. The firm has a market capitalization of $24.31 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 7.32 and a beta of 0.72. The firm’s fifty day moving average price is $155.77 and its two-hundred day moving average price is $148.64. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last released its quarterly earnings data on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.58. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 22nd were given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, September 22nd. Cincinnati Financial’s dividend payout ratio (DPR) is presently 30.18%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CINF. Weiss Ratings reiterated a “buy (b)” rating on shares of Cincinnati Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Cincinnati Financial from $167.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Finally, Roth Capital raised their price target on shares of Cincinnati Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.25.

About Cincinnati Financial

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.