Cibc World Market Inc. Invests $2.51 Million in Cincinnati Financial Corporation $CINF

Cibc World Market Inc. purchased a new stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,880 shares of the insurance provider’s stock, valued at approximately $2,511,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Cincinnati Financial during the 2nd quarter valued at $235,714,000. Vanguard Group Inc. raised its holdings in shares of Cincinnati Financial by 1.6% in the second quarter. Vanguard Group Inc. now owns 19,572,511 shares of the insurance provider’s stock valued at $2,914,738,000 after acquiring an additional 317,033 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Cincinnati Financial by 48.6% in the second quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after acquiring an additional 262,715 shares in the last quarter. Amundi lifted its stake in Cincinnati Financial by 113.6% in the second quarter. Amundi now owns 454,996 shares of the insurance provider’s stock worth $66,479,000 after acquiring an additional 242,020 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Cincinnati Financial by 43.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock worth $83,889,000 after acquiring an additional 173,343 shares in the last quarter. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

CINF has been the subject of several recent research reports. Wall Street Zen lowered Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Piper Sandler boosted their price objective on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research note on Monday, December 22nd. Finally, Roth Mkm reissued a “buy” rating and set a $175.00 target price on shares of Cincinnati Financial in a research report on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.33.

Cincinnati Financial Stock Performance

CINF opened at $162.77 on Monday. The company has a market cap of $25.40 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 3.65 and a beta of 0.66. 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’s 50-day moving average price is $163.67 and its 200-day moving average price is $159.57. Cincinnati Financial Corporation has a 52-week low of $123.01 and a 52-week high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last released its earnings results on Monday, February 9th. The insurance provider reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the business earned $3.14 EPS. Cincinnati Financial’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 24th will be given a $0.94 dividend. 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. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s payout ratio is currently 22.94%.

Cincinnati Financial 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.