Raiffeisen Bank International AG Takes Position in Cincinnati Financial Corporation $CINF

Raiffeisen Bank International AG purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,373 shares of the insurance provider’s stock, valued at approximately $840,000.

Several other hedge funds have also added to or reduced their stakes in CINF. Cibc World Market Inc. bought a new stake in shares of Cincinnati Financial during the third quarter worth approximately $2,511,000. Strs Ohio boosted its stake in Cincinnati Financial by 322.9% in the third quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock valued at $14,780,000 after acquiring an additional 71,378 shares during the last quarter. AE Wealth Management LLC grew its holdings in Cincinnati Financial by 1,102.8% during the 3rd quarter. AE Wealth Management LLC now owns 50,997 shares of the insurance provider’s stock worth $8,063,000 after acquiring an additional 46,757 shares during the period. Western Wealth Management LLC bought a new stake in shares of Cincinnati Financial during the 3rd quarter valued at $1,622,000. Finally, Narwhal Capital Management raised its position in shares of Cincinnati Financial by 62.4% during the 3rd quarter. Narwhal Capital Management now owns 44,966 shares of the insurance provider’s stock valued at $7,109,000 after acquiring an additional 17,276 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Mkm restated a “buy” rating and issued a $175.00 price target on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Cincinnati Financial in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.33.

Cincinnati Financial Stock Up 0.4%

Shares of CINF stock opened at $163.00 on Monday. Cincinnati Financial Corporation has a 12-month low of $123.01 and a 12-month high of $174.27. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $163.69 and a 200-day moving average of $160.06. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 3.63 and a beta of 0.66.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, beating the consensus estimate of $2.86 by $0.51. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.14 EPS. As a group, equities research analysts predict that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, March 24th. Cincinnati Financial’s payout ratio is currently 22.94%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.