Cincinnati Financial Corporation $CINF Shares Bought by Barclays PLC

Barclays PLC increased its holdings in Cincinnati Financial Corporation (NASDAQ:CINF) by 18.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 594,042 shares of the insurance provider’s stock after buying an additional 93,254 shares during the period. Barclays PLC owned about 0.38% of Cincinnati Financial worth $93,918,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cibc World Market Inc. bought a new position in shares of Cincinnati Financial during the third quarter valued at approximately $2,511,000. Strs Ohio lifted its holdings in shares of Cincinnati Financial by 322.9% in the 3rd quarter. Strs Ohio now owns 93,483 shares of the insurance provider’s stock worth $14,780,000 after purchasing an additional 71,378 shares during the last quarter. AE Wealth Management LLC boosted its position 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 valued at $8,063,000 after purchasing an additional 46,757 shares during the period. Western Wealth Management LLC acquired a new position in Cincinnati Financial during the 3rd quarter valued at approximately $1,622,000. Finally, Johnson Investment Counsel Inc. grew its stake in Cincinnati Financial by 2.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 1,405,680 shares of the insurance provider’s stock worth $222,238,000 after buying an additional 37,913 shares during the last quarter. Institutional investors own 65.24% of the company’s stock.

Cincinnati Financial Stock Down 0.6%

Cincinnati Financial stock opened at $165.39 on Monday. 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 $25.74 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 3.68 and a beta of 0.63. The company’s 50-day moving average price is $163.47 and its two-hundred day moving average price is $161.01. 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 issued its quarterly earnings results on Monday, February 9th. The insurance provider reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.51. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.14 EPS. On average, analysts expect 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. Shareholders of record on Tuesday, March 24th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. Cincinnati Financial’s payout ratio is currently 22.94%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CINF shares. 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. Wall Street Zen downgraded shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Piper Sandler upped their price target on shares of Cincinnati Financial from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Cincinnati Financial in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.33.

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.