Bahl & Gaynor Inc. Acquires 37,321 Shares of Cincinnati Financial Corporation $CINF

Bahl & Gaynor Inc. increased its stake in Cincinnati Financial Corporation (NASDAQ:CINF) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,207,736 shares of the insurance provider’s stock after purchasing an additional 37,321 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.77% of Cincinnati Financial worth $190,943,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Cincinnati Financial in the third quarter worth about $267,000. Handelsbanken Fonder AB increased its holdings in Cincinnati Financial by 20.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 31,324 shares of the insurance provider’s stock worth $4,952,000 after acquiring an additional 5,357 shares in the last quarter. Andra AP fonden bought a new stake in Cincinnati Financial during the 3rd quarter worth approximately $1,945,000. Xponance Inc. lifted its holdings in Cincinnati Financial by 16.1% during the third quarter. Xponance Inc. now owns 25,605 shares of the insurance provider’s stock valued at $4,048,000 after purchasing an additional 3,549 shares in the last quarter. Finally, DNB Asset Management AS lifted its holdings in Cincinnati Financial by 3.6% during the third quarter. DNB Asset Management AS now owns 31,105 shares of the insurance provider’s stock valued at $4,918,000 after purchasing an additional 1,068 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CINF shares. Piper Sandler raised their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Keefe, Bruyette & Woods increased their target price on Cincinnati Financial from $180.00 to $191.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Cincinnati Financial currently has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Down 0.7%

Shares of CINF stock opened at $163.98 on Monday. The company’s fifty day simple moving average is $163.29 and its two-hundred day simple moving average is $160.47. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $174.27. The stock has a market cap of $25.52 billion, a P/E ratio of 10.81, a PEG ratio of 3.65 and a beta of 0.63. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last issued its earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm posted $3.14 earnings per share. The business’s revenue was up 21.8% compared to the same quarter last year. Analysts predict that Cincinnati Financial Corporation will post 5.36 EPS 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 issued a dividend of $0.94 per share. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $3.76 annualized dividend and a dividend yield of 2.3%. Cincinnati Financial’s payout ratio is currently 22.94%.

Cincinnati Financial Company Profile

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.