Citigroup Inc. Purchases 22,612 Shares of Cincinnati Financial Corporation $CINF

Citigroup Inc. lifted its position in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,591 shares of the insurance provider’s stock after purchasing an additional 22,612 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Cincinnati Financial worth $28,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of CINF. Oppenheimer & Co. Inc. boosted its stake in Cincinnati Financial by 0.4% during the third quarter. Oppenheimer & Co. Inc. now owns 14,906 shares of the insurance provider’s stock worth $2,357,000 after buying an additional 64 shares in the last quarter. Legacy Financial Strategies LLC lifted its holdings in shares of Cincinnati Financial by 0.3% during the 3rd quarter. Legacy Financial Strategies LLC now owns 22,616 shares of the insurance provider’s stock worth $3,576,000 after acquiring an additional 65 shares during the period. State of Wyoming boosted its position in shares of Cincinnati Financial by 5.4% during the 3rd quarter. State of Wyoming now owns 1,315 shares of the insurance provider’s stock valued at $208,000 after acquiring an additional 67 shares in the last quarter. Natural Investments LLC increased its stake in Cincinnati Financial by 2.1% in the third quarter. Natural Investments LLC now owns 3,421 shares of the insurance provider’s stock valued at $540,000 after acquiring an additional 70 shares during the period. Finally, NewEdge Wealth LLC raised its position in Cincinnati Financial by 0.5% in the third quarter. NewEdge Wealth LLC now owns 15,339 shares of the insurance provider’s stock worth $2,455,000 after purchasing an additional 75 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Up 1.9%

CINF stock opened at $163.75 on Thursday. The business has a fifty day moving average price of $163.41 and a 200 day moving average price of $160.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.30. Cincinnati Financial Corporation has a fifty-two week low of $123.01 and a fifty-two week high of $174.27. The stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 3.58 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, topping analysts’ consensus estimates of $2.86 by $0.51. Cincinnati Financial had a return on equity of 8.45% and a net margin of 18.94%.The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $3.14 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Analysts expect that Cincinnati Financial Corporation will post 5.36 EPS for the current fiscal year.

Cincinnati Financial Increases Dividend

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

Wall Street Analyst Weigh In

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

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.