15,880 Shares in Cincinnati Financial Corporation $CINF Purchased by Cibc World Market Inc.

Cibc World Market Inc. purchased a new position in Cincinnati Financial Corporation (NASDAQ:CINF) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,880 shares of the insurance provider’s stock, valued at approximately $2,511,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cincinnati Financial by 1.6% in the 2nd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cincinnati Financial by 1.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock valued at $963,594,000 after purchasing an additional 106,266 shares during the period. Bank of America Corp DE boosted its holdings in Cincinnati Financial by 4.2% in the second quarter. Bank of America Corp DE now owns 2,011,505 shares of the insurance provider’s stock valued at $299,553,000 after purchasing an additional 80,487 shares during the last quarter. Norges Bank acquired a new stake in Cincinnati Financial during the 2nd quarter worth about $235,714,000. Finally, Johnson Investment Counsel Inc. raised its stake in shares of 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 valued at $222,238,000 after buying an additional 37,913 shares during the last quarter. 65.24% of the stock is owned by hedge funds and other institutional investors.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $162.77 on Monday. The stock has a market capitalization of $25.40 billion, a P/E ratio of 10.73, a P/E/G ratio of 3.65 and a beta of 0.66. The company’s fifty day moving average price is $163.67 and its 200 day moving average price is $159.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.30 and a current ratio of 0.29. Cincinnati Financial Corporation has a 1 year low of $123.01 and a 1 year high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings data on Monday, February 9th. The insurance provider reported $3.37 earnings per share (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 the consensus estimate of $2.92 billion. Cincinnati Financial had a net margin of 18.94% and a return on equity of 8.45%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted $3.14 earnings per share. As a group, equities research analysts anticipate 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. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.94 per share. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, March 24th. This represents a $3.76 annualized dividend and a yield of 2.3%. Cincinnati Financial’s dividend payout ratio (DPR) is presently 22.94%.

Wall Street Analyst Weigh In

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

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.