Bahl & Gaynor Inc. Raises Stock Position in Cincinnati Financial Corporation $CINF

Bahl & Gaynor Inc. grew its holdings in shares of Cincinnati Financial Corporation (NASDAQ:CINF) by 3.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,207,736 shares of the insurance provider’s stock after acquiring an additional 37,321 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Cincinnati Financial were worth $190,943,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CINF. Vanguard Group Inc. raised its position in Cincinnati Financial by 1.6% during 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 purchasing an additional 317,033 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cincinnati Financial by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,470,538 shares of the insurance provider’s stock worth $963,594,000 after purchasing an additional 106,266 shares during the period. Bank of America Corp DE increased its position in shares of Cincinnati Financial by 4.2% during the 2nd 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 purchased a new stake in Cincinnati Financial during the 2nd quarter valued at $235,714,000. Finally, Johnson Investment Counsel Inc. lifted its position in Cincinnati Financial by 2.8% in the third 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 Trading Down 0.7%

CINF stock opened at $163.98 on Monday. Cincinnati Financial Corporation has a 12 month low of $123.01 and a 12 month high of $174.27. The firm’s 50-day moving average is $163.29 and its 200 day moving average is $160.47. The company has a market capitalization of $25.52 billion, a PE ratio of 10.81, a P/E/G ratio of 3.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Cincinnati Financial (NASDAQ:CINF) last issued 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. 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 for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.14 EPS. On average, research analysts anticipate that Cincinnati Financial Corporation will post 5.36 EPS for the current 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 issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, March 24th. This is an increase from Cincinnati Financial’s previous quarterly dividend of $0.87. Cincinnati Financial’s dividend payout ratio (DPR) is 22.94%.

Analyst Ratings Changes

A number of research analysts have weighed in on CINF shares. Keefe, Bruyette & Woods boosted their price objective on shares of Cincinnati Financial from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler lifted their price target 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. Wall Street Zen lowered shares of Cincinnati Financial from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Cincinnati Financial in a research note 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. According to data from MarketBeat, Cincinnati Financial 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.