Allstate Corp Has $1.95 Million Stock Holdings in Cincinnati Financial Corporation $CINF

Allstate Corp increased its position in Cincinnati Financial Corporation (NASDAQ:CINF) by 117.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,933 shares of the insurance provider’s stock after purchasing an additional 6,437 shares during the quarter. Allstate Corp’s holdings in Cincinnati Financial were worth $1,949,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CINF. Raymond James Financial Inc. grew its stake in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock valued at $119,682,000 after buying an additional 262,715 shares during the period. Korea Investment CORP grew its stake in shares of Cincinnati Financial by 210.0% in the 3rd quarter. Korea Investment CORP now owns 294,423 shares of the insurance provider’s stock valued at $46,548,000 after buying an additional 199,437 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Cincinnati Financial in the 4th quarter valued at about $32,692,000. Goldman Sachs Group Inc. grew its stake in shares of Cincinnati Financial by 43.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 567,894 shares of the insurance provider’s stock valued at $83,889,000 after buying an additional 173,343 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Cincinnati Financial by 3,892.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 145,890 shares of the insurance provider’s stock valued at $23,065,000 after buying an additional 142,236 shares during the period. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Cincinnati Financial Trading Down 1.8%

NASDAQ:CINF opened at $160.00 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $24.75 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 3.54 and a beta of 0.59. The firm’s 50 day moving average is $162.65 and its 200 day moving average is $163.66. Cincinnati Financial Corporation has a 12 month low of $143.37 and a 12 month high of $174.27.

Cincinnati Financial (NASDAQ:CINF) last posted its quarterly earnings results on Monday, April 27th. The insurance provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.17. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. Cincinnati Financial’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. Sell-side analysts expect that Cincinnati Financial Corporation will post 8.61 earnings per share for the current year.

Cincinnati Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, June 23rd. Cincinnati Financial’s payout ratio is 21.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CINF shares. Wall Street Zen downgraded Cincinnati Financial from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Bank of America dropped their price target on shares of Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Roth Mkm raised their price target on shares of Cincinnati Financial from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods raised their price target on shares of Cincinnati Financial from $190.00 to $191.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler raised their price target on shares of Cincinnati Financial from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $183.25.

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.